At Home : Inheritance Tax

This tax is levied on an individuals estate at the time of death and on certain lifetime gifts which is the problem area that requires addressing by more people.

A number of exemptions are available:

• Transfers between spouses
• Marriage gifts - set limits apply
• Small Gifts
• Specific property reliefs

Careful planning and advice is essential to alleviate the burden and reducing your tax bill significantly, as the death rate is essentially 40% on the balance of an estate once reliefs and exemptions are allowed for.

Inheritance tax threshold	2009-10(£)	2010-11(£)
	325,000