Inheritance Tax Thresholds
The inheritance tax nil-rate band for 2007/08 is £300,000. In addition, the thresholds above which the nil-rate band ceases to apply for future years have been set at £312,000 for 2008/09, £325,000 for 2009/10 and £350,000 for 2010/11.

Pre-owned Assets
Following FA 2004, individuals who were subject to a pre-owned assets income tax charge could elect for those assets to be treated as part of their estate for IHT purposes. This election had to be made by 31 January 2007 but this deadline is relaxed so that, from 21 March 2007, elections (Form IHT 500) that would otherwise be late can be accepted by HMRC.