Tax Tables 2006/07

						2007/08	2006/07
Nil-rate band						£300,000	£285,000
Rate of tax on excess						40%	40%
Lifetime transfers to and from certain trusts						20%	20%
Overseas domiciled spouse/civil partner exemption						£55,000	£55,000
100% relief: businesses, unlisted/AIM companies, certain farmland/buildings
50% relief: certain other business assets used by qualifying businesses

Reduced tax charge on gifts within 7 years of death
Years before death	0-3	3-4	4-5	5-6	6-7
% of death tax charge	100	80	60	40	20
Annual exempt gifts	£3,000 per donor			£250 per donee