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.
Any existing wills which pass the deceased’s home to a discretionary trust on death will need to be reviewed.
That said, it is still possible to vary a will within two years of death but the beneficiaries and executors need to agree to this which may not always be achievable.
Tags: IHT | Wills And Trusts
