Four key IHT planning tips for residential nil rate tax band
By Mark Battersby, 15 Mar 17
Some changes in inheritance tax law can affect wills and trusts, including the introduction of the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 on 6 April 2017, says Karen Clark, tax partner in charge of the London private client team at RSM.
The RNRB is only available for residential property which passes to children or other lineal descendants (and/or their spouses) outright or onto a favoured trust for their benefit.
These trusts include an Immediate Post Death Interest trust, Bereaved Minor, 18-25 or Disabled Person Trust.
Tags: IHT | Wills And Trusts
