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GENERAL
INHERITANCE TAX
Exemptions
Certain transfers are exempt from Inheritance Tax as far as the donor or settlor is concerned. However, it should be appreciated that, following the date of transfer, they would be included in the estate of the beneficiary should he/she die. Exempt transfers include:
(a) All gifts between spouses
(b) All gifts to registered charities
(c) PETs made more than seven years before death
(d) Up to £3,000 per annum (Annual Gifts Exemption)
(e) Up to £250 in any year to any number of beneficiaries (Small Gifts Exemption). (This is not available to those who received benefit from (d) above).
(f) Regular gifts out of income which do not reduce the donor's standard of living (Normal Expenditure Out of Income Exemption).
(g) Gifts in consideration of marriage:-
Mortgage Products
Legacy
Disclaimer
Pension Products
Contact
Protection Products
Investment Products
General
INHERITANCE TAX
Certain transfers are exempt from Inheritance Tax as far as the donor or settlor is concerned. However, it should be appreciated that, following the date of transfer, they would be included in the estate of the beneficiary should he/she die. Exempt transfers include:
(a) All gifts between spouses
(b) All gifts to registered charities
(c) PETs made more than seven years before death
(d) Up to £3,000 per annum (Annual Gifts Exemption)
(e) Up to £250 in any year to any number of beneficiaries (Small Gifts Exemption). (This is not available to those who received benefit from (d) above).
(f) Regular gifts out of income which do not reduce the donor's standard of living (Normal Expenditure Out of Income Exemption).
(g) Gifts in consideration of marriage:-
| £5,000 | By parent |
| £2,500 | By grandparent |
| £1,000 | By others |
