TEL: 0845 371 4554
FAX: 0845 371 4555
Bolland & Burke Chartered Accountants - a wealth of knowledge at your disposal
| Inheritance Tax | 2011-12 | 2010-11 |
| Standard Threshold | £325,000 | £325,000 |
| Combined Threshold maximum for married couples and civil partners | £650,000 | £650,000 |
| 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.
© 2008-2009 Bolland & Burke Accountants. All rights reserved.
2nd Floor, 11 Rutland Street, Edinburgh. EH1 2DQ | Tel: 0845 371 4554
You are viewing the text version of this site.
To view the full version please install the Adobe Flash Player and ensure your web browser has JavaScript enabled.
Need help? check the requirements page.
