Bolland & Burke Chartered Accountants - a wealth of knowledge at your disposal
| Inheritance Tax | 2009-10 | 2008-9 |
| Nil Rate Band | £325,000 | £312,000 |
| Rate of Tax on Balance | ||
| Chargeable lifetime transfers | 20% | 20% |
| Transfers on or within 7 years of death | 40% | 40% |
Al Lifetime transfers not covered by exemptions and made within seven years will be added back to the estate for purposes of tax liability calculations. This may then be reduced by:
| Years Before Death | 0-3 | 3-4 | 4-5 | 5-6 | 6-7 |
| Tax Reduced By | 0% | 20% | 40% | 60% | 80% |
Please contact us for a detailed discussion on inheritance tax exemptions and tax planning.
Please Note: The figures in this tax guide are for guidance only. Professional advice should be obtained before acting on the information and no responsibility can be accepted for any loss however caused resulting from actions taken or not-taken as a result of the information on this page.
TEL: 0845 371 4554
FAX: 0845 371 4555
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119 Bruntsfield Place Edinburgh EH10 4EQ | Tel: 0845 371 4554
