Did you know that your estate can now benefit from a new Inheritance Tax exemption?
Did you know that your estate can now benefit from a new Inheritance Tax exemption? The new IHT Residence Nil Rate Band (RNRB) is in addition to an individual’s own Nil Rate Band, currently £325,000. The new RNRB is currently £100,000 and will increase by £25,000 each tax year until 2020/21. This new exemption will […]
Residence Nil Rate Band Explained
Residence Nil Rate Band Explained – By Danielle Harvey The new IHT Residence Nil Rate Band (RNRB) will be introduced April 2017. It is in addition to an individual’s own Nil Rate Band of £325,000, and conditional on the main residence being passed down to direct descendants (e.g. children, grandchildren). The RNRB will start at […]