Inheritance Tax
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£’000 |
£’000 |
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| *Potentially increased for surviving spouses or civil partners who die on or after 9 October 2007. | |||
Reliefs: |
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| Annual exemption | £3,000 | Marriage | - parent | £5,000 |
| Small gifts | £250 | - grandparent | £2,500 | |
| - bride/groom | £2,500 | |||
| - other | £1,000 |
Reduced charge on gifts within seven years of death: |
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| Years before death |
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| % of death charge |
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