P269 CEEFAX 269 Thu 28 Oct 21:23/21 1/3 n n |/ T X GU DE INHERITANCE TBX 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 £1 0, 0 To £15 , 00 % 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 100 88 60 40 20 Source: Blay's Guides Economy Savings Mortgages CityHeadsP269 CEEFAX 269 Thu 28 Oct 21:12/45 2/3 O TBX GUIDE EXJMPTJONS FROM INHERJTBNCE TAX 1992/3 1993/4 Gift per donor pa £3,000 £3,000 Gifts per donee £250 £250 Marriage Gifts: from parent £5,000 £5,000 from grandparent £2,500 £2,500 from other £1,000 £1,000 Gifts to individuals and certain trusts over 7 years bufore death. No IHT is payable on transfers to a surviving spouse. Source: Blay's Guides Economy Savings Mortgages CityHeadsP269 CEEFAX 269 Thu 28 Oct 21:14/48 3/3 TAX GUIDE OTHER TAXES Value Added Tax - standard rate 17.5% Stamp Duty - shares 0.5% - land transfers (£60, 00 or more 1.0% Vehicle Licence - 12 months £125.00 Television Licence ]acolour £83.00 - black and white £27.50 Economy Savings Mortgages CityHeads