not taking part or giving assistance in a dispute or war between others: a neutral nation during World War II. 2. not aligned with or supporting any side or position in a controversy: The arbitrator was absolutely neutral. 3. of or belonging to a neutral state or party: neutral territory.
Inheritance Tax rates. The rate of Inheritance Tax is 40% on anything above the threshold. The rate may be reduced to 36% if 10% or more of the estate is left to charity.
Later, upon the second death the nil-rate band would be 160% of the allowance for a single person, so that if the surviving spouse also died in 2007/08 the first Â£480,000 (160% of Â£300,000) of the surviving spouse's estate would be exempt from inheritance tax.