Still unclear on what the Residence Nil Rate Band is about? Here's what you need to know..... What is the Residence Nil Rate Band (RNRB)? The RNRB is an additional allowance for inheritance tax. It applies in addition to the existing IHT Nil Rate Ban
As we all start to digest the detail from the recent summer budget announcements, the much anticipated changes to inheritance tax thresholds was finally confirmed. At present, inheritance tax is payable at 40% on the value of an estate in excess of the tax free allowance of £325,000.
A week has passed since the latest budget announcements and the last before a national election. Now the dust has settled and we can assess the impact over our 1p cheaper pint of beer. In amongst the headline grabbing pension lifetime allowance changes and ISA freedoms, was a hint of