P278 CEEFAX 278 Mon 18 Nov 22:05/18 1/2 INHERITANCE TAX 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 271) City A-Z TaxIndjx Inc Tax Main MenuP278 CEEFAX 278 Mon 18 Nov 21:15/30 2/2 INHERITANCE TAX Exemptions for year to 5 April 1997 Annual gifts pet donor £3,000 Small gifts pet donje £250 Gifts on marriage: - from parent £5,000 - from grand-parent £2,500 - from othjts £1,000 Source: Ernst & Young (see page 271) City A-Z TaxIndjx Inc Tax Main Menu