IHT

IHT: Main Residence Nil-Rate Band

2017-06-08T14:07:17+00:00June 8th, 2017|Categories: Taxation|Tags: , |

From April 2017, each individual spouse or civil partner will be offered a residence nil rate band (RNRB), which is designed to help pass on a home to 'direct descendants', including children or grandchildren, tax-free after their death. The rules governing the inheritance tax (IHT) nil rate band are complex and it is always recommended that prior professional advice is considered. Phasing in of RNRB The RNRB is being phased in over a four-year period as follows: - £100,000 in 2017-2018 - £125,000 in 2018-2019 - £150,000 in 2019-2020 - £175,000 in 2020-2021 Broadly, the new RNRB will be added [...]

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