Notes:

1. The rates of inheritance tax and gift tax are applied by reference to the aggregate of all taxable inheritances and taxable gifts taken after 5th December 1991 by the beneficiary being taxed. Inheritances or gifts taken before 5th December 1991 are not aggregated in relation to inheritances or gifts taken on or after that date.
   
   
2. Tax rates were considerably higher for benefits taken prior to 1st December 1999 and differed between gifts and inheritances.
   
   
3. For the purpose of Gift and Inheritance Tax, the relationship between the person who provided the gift or inheritance (i.e. the Disponer) and the person who received the gift or inheritance (i.e. the beneficiary), determines the maximum tax free threshold - known as the "group threshold". Three Group thresholds were introduced on 1 December 1999 in respect of gifts and inheritances taken between 1 December 1999 and 31 December 2000. The Group thresholds are indexed by reference to the Consumer Price Index and the indexation factor for 2006 (1 January 2005 to 31 December 2005 inclusive) is 1.255. The indexed Group thresholds for 2004, 2005 and 2006 are set out in the table below.
   
   
4. For the new indexed threshold amounts, see table below.