P269 CJEFAX 269 Thu 4 Nov 21:13/25 1/3 TAX GUIDE INHERITANCE TAX IHT is charged on certain lifetime gifts, on the wealth of the estate at d ash 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 80 60 40 20 Source: Blay's Guides Economy Sa inks M t a it HP269 CJJFAX 269 Thu 4 Nov 21:11/38 2/3 TBX GUIDE I EXJMPTJONS FROM INHERJTBNCE TAX 1992/3 1993/4 Gift per donor pa £3,000 £3,000 Gifts per donje £250 £250 Marriage Gifts: from parent £5,000 £5,000 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 CEJFAX 269 Thu 4 Nov 21:27/12 3/3 TAX GUIDE OTHER TBXJS Value Added Tax - standard rate 17.5% Stamp Duty -ashares 0.5% - land transfers (£60,000 or more) 1.0% Vehicle Licence - 12 months 0 £125.00 Television Licence macolour 0£83.00 - black and white £27.50 Economy Savings Mortgages CityHjads