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|
2018-19
|
2017-18
|
|
Nil rate band
|
|
£325,000
|
£325,000
|
|
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.
|
|
Rate of tax on balance:
|
|
|
|
|
|
Chargeable lifetime transfers
|
|
20%
|
|
20%
|
|
Transfers on or within 7 years of , death
|
|
40%
|
|
40%
|
|
subject to a tapered reduction for transfers between 7 and 3 years before death
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|
|
