|Residence nil-rate band*||N/A||£100,000†|
|Rate of tax on excess||40%||40%|
|Rate if at least 10% of net estate left to charity||36%||36%|
|Lifetime transfers to and from certain trusts||20%||20%|
|Overseas domiciled spouse/civil partner exemption||£325,000||£325,000|
|100% relief: businesses, unlisted/AIM companies, certain farmland/buildings|
|50% relief: certain other business assets, e.g. farmland let before 1/9/95|
*Up to 100% of the unused portion of a deceased spouse’s/civil partner’s nil-rate band can be claimed on the survivor’s death
†Subject to 50% taper for estates above £2,000,000
|Annual exempt gifts||£3,000 per donor||£250 per donee|
|Tax charge on gifts within 7 years of death|
|Years before death||0–3||3–4||4–5||5–6||6–7|
|% of death tax charge||100||80||60||40||20|
© Copyright 8 March 2017, subject to Finance Act 2017. For information only.
Always seek professional advice before acting.