|Transfer value||death rate||chargeable lifetime transfer|
|£1 – £325,000||0%||0%|
|Reduced rate where 10% or more of estate is left to charity or amateur sports body||36%|
A husband and wife each have a (transferable) nil rate band of £325,000.
This means that an unused part of a deceased spouse’s nil rate band goes to the surviving spouse (IHTA 1984 s 8A).
Annual gifts of up to £3,000 per donor, are exempt.