| Charges on or after 6th April 2008 | Rates % | Charges between 6th April 2007 and 5th April 2008 |
| 0 - £312,000 | NIL | 0 - £300,000 |
| Above £312,000 | 40% | Above £300,000 |
| Lifetime chargeable transfers at half the death rate, ie 20%. Business property relief of 100% for all shareholdings in qualifying unquoted trading companies and for most unincorporated trading businesses; agricultural property relief at 100% for qualifying holdings of agricultural land. Annual exemption for lifetime gifts £3,000. Small gifts - annual amount per donee £250. | ||
| Reduced tax charge on transfers within 7 years of death | ||
| Years before death | Percentage of death rates | |
| 0 - 3 | 100% | |
| 3 - 4 | 80% | |
| 4 - 5 | 60% | |
| 5 - 6 | 40% | |
| 6 - 7 | 20% | |
| Over 7 | NIL | |