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2018-19
|
2017-18
|
Nil rate band
|
|
£325,000
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£325,000
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A further nil rate band of £125,000 may be available in relation to current or former residences. Nill rate bands of surviving spouses/civil partners may be increased by unused nil rate bands of deceased spouses/civil partners.
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Rate of tax on balance:
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|
|
|
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Chargeable lifetime transfers
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20%
|
|
20%
|
Transfers on or within 7 years of , death
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|
40%
|
|
40%
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subject to a tapered reduction for transfers between 7 and 3 years before death
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|
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