DF-VATIHT

VAT and Inheritance tax		2014/2015	2015/2016
VAT Standard rate		20%	20%
VAT Registration level	From 1-4-12/13	81,000	82,000
VAT Deregistration level	From 1-4-12/13	79,000	80,000
IHT 0-325,000		Nil	Nil
IHT above 325,000	Death/Lifetime	40%/20%	40%/20%

The VAT rate has varied in recent years:
       Prior to 1/12/08 it was 17.5%
       From 1/12/08 it was 15%
       From 1/1/10 it was 17.5%
       From 4/1/11 is was 20%

There are a number of IHT exemptions and reliefs - most commonly the annual lifetime gift exemption of 3,000 and the annual small gifts exemption of 250 (per donee).