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P288 CEEFAX 288 Mon 27 May 01:15/24   1/2      INHERITANCE TAX Rate in year to 5 April 1996 First £154,000 at nil: excess at 40% Rate in year to 5 April 1997 First £200,000 at nil: excess at 40% Gifts made more than 7 years before death are tax-free. Charges on gifts within 7 yrs of death yrs since gift 0-3 3-4 4-5 5-6 6-7 % of full charge 100 80 60 40 20 Source: Ernst & Young (see page 281) Calendar COT CityHeads Monjyfili

P288 CEEFAX 288 Mon 27 May 01:17/19   2/2      INHERITANCE TAX Exemptions for years to 5 April 1996 and 1997 Annual gifts per donor £3,000 Small gifts per donje £250 Gifts on marriage: - from parent £5,000 - from grand-parent £2,500 - from others £1,000 Source: Ernst & Young (see page 281) Calendar COT CityHeads Monjyfili