P278 CEEFAX 2 278 Sun 16 Feb 21:44/30 1/2 INHERIT NCJ T X Rate in year to 5 April 1997 First £200,000 at nil: excess at 40% Rate in year to 5 April 1998 First £215,000 at nil: excess at 40% Charger 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 Tbx Main MenuP278 CEEFAX 2 278 Sun 16 Fed 21:51/08 2/2 U O INHERJTANCJ TAX Exemptions for years to 5 April 1997 and 5 April 1:98 Annual gifts pet donor £3,000 Small gifts pet donje £250 Gifts on m jag : - 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