P269 CEEFAX 269 Thu 21 Oct 21:10/34 1/3 TAX GUIDE INHERJTBNCJ TAX IHT is charged on certain lifetime gifts, on the wealth of the estate at death and on some trust deals. Tax is paid by the donor when the exemption threshold is reached. For year to 5 April: 1993 1994 RATE To £150,000 To £150,000 0% Over £150,000 Over £150,000 40% Tapering relief for charges on gifts within seven years of death: Years 0-3 3-4 4-5 5-6 6-7 % payable 1p0 8p 60 40 2p Source: Blay's Guides Economy Savings Mortgages CityHeadsP269 CEEFAX 269 Thu 21 Oct 21:22/34 2/3 TAX GUIDE I EXJMPTJONS FROM INHERITANCE TAX 1992/3 1993/4 Gift per donor pa £3,000 £3,000 Gifts per donje £250 £250 Marriage Gifts: from parent £5,000 £5,X00 from grandparent £2,500 £2,500 from other £1,000 £1,000 Gifts to individuals and certain trusts over 7 years before death. No IHT is payable on transfers to a surviving spouse. Source: Blay's Guides Economy Savings Mortgages CityHeadsP269 CEEFAX 269 Thu 21 Oct 21:17/24 3/3 TAX GUIDE OTHER TAXES Value Added Tbx -astandarh rate 17.5% Stamp Duty - shares 0 8.5% ] land transfers (£60,000 or more) 1.0% Vehicle Licence - 12 months £125.00 Television Licence - colour £83.00 - black and white £27.50 Economy Savings Mortgages CityHeads