July Questions and Answers

2019-09-02T11:32:29+01:00July 23rd, 2019|Categories: Questions & Answers|Tags: , , , , , |

Q. If my husband and I give our house to my children but continue to live in it, will inheritance tax be chargeable on the property when we die? A. The inheritance tax residence nil rate band (RNRB), which is currently being phased, is designed to help people in your position to pass on the family home to children or grand- children, tax-free after their death. Broadly, where someone dies on or after 6 April 2017 and their estate is above the basic inheritance tax threshold (currently £325,000), the estate may be entitled to an additional threshold before any inheritance [...]