Planning to minimise the inheritance tax (IHT) due on your estate is always important, but the recent introduction of the residence nil-rate band (RNRB) means now could be the ideal time to review your existing plans. What is the RNRB? IHT is charged at 40% on estates worth in excess of the nil-rate band, which … Continue reading Is It Time to Review Your Estate Plan?
Our latest newsletter is here, packed with information on estate planning, VAT schemes, capital allowances and much more! To view our latest newsletters, visit the publications section of our website. Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
In the Summer 2015 budget the Government announced plans for a main residence nil rate band (RNRB) to be introduced from 6 April 2017. Currently, individuals have a nil rate band (NRB) of £325,000, which is the threshold up to which their estate and taxable gifts are exempt from inheritance tax. Subject to qualifying conditions, … Continue reading Rules Surrounding New Inheritance Tax Relief Deemed Too Complex