Deaths and transfers	2008 / 09	2007 / 08
Nil rate band to	£312,000	£300,000
Rate of tax on balance	40%	40%
Lifetime transfers to and from certain trusts	20%	20%

It is now possible to transfer unused nil-rate band allowances between spouses or civil partners. For individuals who die on or after 9 October 2007 a claim may be made to utilise any unused nil rate band from their deceased spouse or civil partner's estate.

The amount of the nil rate-band potentially available for transfer will be based on the proportion of the nil-rate band unused when the first spouse or civil partner died. If on the first death the chargeable estate is £156,000 and the nil-rate band is £312,000, then 50% of the original nil-rate band is unused. If the nil rate band when the surviving spouse dies is £350,000, then that would be increased by 50% to £525,000.

All lifetime transfers not covered by exemptions and made within seven years of death will be added back into the estate for the purpose of calculating the tax payable. This may be reduced by Taper Relief (although Taper Relief is being abolished - 2008/09)

Main Reliefs	.
Business Propery	.
- business or interest	100%
- qualifying shareholder in unlisted AIM companies	100%
- land, buildings, machinery or plant	50%
Agricultural Property	50% or 100%

Charge on gifts within 7 years of death (years before death):	Percentage of death rate charge applied to gift
0 - 3 years	100%
3 - 4 years	80%
4 - 5 years	60%
5 - 6 years	40%
6 - 7 years	20%

Main exemptions:	Exempt amount:
Transfer between spouses and civil partners	varies (most)
Annual gifts per donor	£3,000 per year
Small gifts to same person	£250 per year
On marriage or civil partnership by parent of either party	£5,000
On marriage or civil partnership by grandparent of either party	£2,500
On marriage or civil partnership by any other person	£1,000
To charities	all gifts
To political parties	all gifts