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Tax Insider Tip: Home Sweet Home: The Residence Nil Rate Band And IHT
Tax Insider publishes monthly newsletters and reports.
For inheritance tax (IHT) purposes, every individual is entitled to a nil rate band (NRB), currently worth £325,000.
This means that the first £325,000 of his/her death estate (basically assets less liabilities) falls subject to a charge at 0% (assuming no lifetime gifts within seven years of death). Above this amount, IHT is charged on death at 40%.
However, Malcolm Finney has written an article in which he looks at aspects of the residence nil rate band that are not commonly understood.
It is a sample article from our popular Property Tax Insider newsletter but you can read it right here:
>> Home Sweet Home: The Residence Nil Rate Band And IHT
As part of our 'three-free-issue' Property Tax Insider trial, you'll get this article plus 11 more delivered to your doorstep.
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