Inheritance Tax

 

2014-15

          2013-14

Standard threshold

 

£325,000

£325,000

Combined threshold maximum

 

£650,000

£650,000

for married couples and 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

Exemptions may be available; please contact us for relevant information and advice