Inheritance Tax

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2006/07

Rates on death: £0 - £285,000 Rate of tax on excess

0% 40%

Reduced tax charge on gifts within 7 years of death Years before death 0 to 3 years 3 to 4 years 4 to 5 years 5 to 6 years 6 to 7 years

100% 80% 60% 40% 20%

Annual gift exemption per donor £3,000