Inheritance Tax

	2010/11	2009/10
Nil-rate band*	£325,000	£325,000
Rate of tax on excess	40%	40%
Lifetime transfers to and from certain trusts	20%	20%
Exemption for overseas domiciled spouse/civil partner	£55,000	£55,000
100% relief: businesses, unlisted/AIM companies, certain farmland/buildings
50% relief: certain other business assets

Reduced tax charge on gifts within 7 years of death
Years before death:	0-3	3-4	4-5	5-6	6-7
% of death tax charge:	100	80	60	40	20
Annual exempt gifts:				£3,000 per donor	£250 per donee

* Up to 100% of the unused proportion of a deceased spouse’s/civil partner’s nil-rate band can be claimed on the surviving spouse’s/civil partner’s death after 8 October 2007

Pre-Budget 2009 Video

We will be recording one of our Budget Report 2010 seminars and publishing it on the website.

If you would like us to notify you when this recording is released please register your interest below and let us help you to prepare your company for the coming tax year.

Simply enter your contact details below and we will be in touch as soon as it is ready to watch.

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A recording of our Pre-Budget 2009 seminar is already available to view.

Click here to watch our Pre-Budget 2009 Seminar.

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