The nil rate band thresholds for future years have already been announced...

2009-10 - £325,000
2010-11 - £350,000

In addition, for deaths after 9th October 2007, a transfer of any unused nil rate band is available from former deceased spouses and civil partners.

Amounts above the threshold are taxed at 40%.

Most transfers between spouses and civil partners are exempt.

Chargeble lifetime transfers are initially charged at 20%.

Business Property Relief
Business, interest in a business or qualifying shareholders in unquoted (inlcuding AIM listed companies) - 100%
Land, buildings, machinery, or plant used in a company controlled by the transferor or partnership - 50%
Agricultural property - 50% or 100%


Other Reliefs:
Annual gifts of up to £3000 per donor are exempt.

Small gifts £250

Marriage gifts...
- parent £5,000
- grandparent £2,500
- bride/groom £2,500
- other £1,000