Inheritance Tax
| 2011-12 | 2010-11 | |
| 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 life time transfers | 20% | 20% |
| Transfers on, or within 7 years of, death | 40% | 40% |
subject ot a tapered reduction for transfers between 7 and 3 years before death.
Exemptions may be available; please contact us for relevant information and advice.
© 2012 Mitchell Gordon