Website of the UK government

Inheritance Tax

As announced in Budgets 2006 and 2007, the inheritance tax allowance will be increased by more than statutory indexation to £312,000 for the tax year 2008-09 for individuals or £624,000 for married couples and civil partners (£325,000 for 2009-10 for individuals and £650,000 for married couples and civil partners and £350,000 for 2010-11 for individuals or 700,000 for married couples and civil partners. The value of estates over and above the allowance is taxed at 40 per cent.

• Inheritance Tax

Capital gains tax

The capital gains tax (CGT) annual exempt amount is increased in line with statutory indexation to £9600 for the tax year 2008-09 for individuals, personal representatives of deceased persons and trustees of certain settlements for the disabled. The annual exempt amount for most other trustees is increased to £4,800.

Every husband, wife, civil partner and child has his or her own £9,200 annual exempt amount.

For gains above the annual exempt amount the CGT rate for 2008-09 will be 18%. Also a new entrepreneurs' relief will reduce the effective tax rate on some gains to 10%.

• Capital Gains Tax (CGT)

Stamp Duty

The rates and thresholds for stamp duty land tax (SDLT) remain unchanged.

• Stamp Duty