The residence nil rate band (RNRB) can increase the amount of your estate that will escape inheritance tax. When can the RNRB apply and what steps can you take to ensure that your beneficiaries
benefit from the tax savings?
Published 06.10.2020
You mother recently died having spent the last couple of years in care. Last year you sold her home to help pay the nursing home fees. When preparing the inheritance tax forms are you entitled to
claim the residence nil rate band?
Published 06.07.2022
The mother of one of our subscribers owns a house in a retirement community. When she dies the property must be sold back to the property management company. Will this mean the estate will lose the
residence nil rate band (RNRB)?
Published 03.10.2023
The inheritance tax residence nil rate band (RNRB) will be phased in from 6 April 2017. Its purpose is to reduce the tax payable by estates on or after that date, but a spouse’s earlier death might
still trigger a tax saving. When might this apply?
Published 24.11.2016
The Summer Budget included a new tax break for homeowners whose estates are worth enough to be liable to inheritance tax. How will the new tax allowance work and is there any planning you should be
doing to take advantage?
Published 09.09.2015
Despite the Taxman’s efforts, it’s still possible to use your home for Inheritance Tax planning. One option is to use an equity release scheme. This can be in the form of a loan or a sale and lease
back. What are the pros and cons of each?
Published 29.11.2012
The Inheritance Tax (IHT) nil rate band remains frozen, bringing more estates into the Taxman’s grasp. Meanwhile, house prices are edging up again increasing the potential IHT bill for many. What
steps can you take to avoid this trap?
Published 18.03.2011
Your father left the whole of his estate, mainly consisting of his share in their home, to your mother in his will. As a result there will be a big inheritance tax bill waiting when she dies. What
steps can you take to reduce it?
Published 19.11.2021
The usual advice is that potential inheritance tax (IHT) payable on gifts starts reducing (tapering) once three years have elapsed, and after seven the gift is IHT free. However, the three-year
deadline is often an illusion. Why?
Published 19.04.2023
The terms of your will can significantly affect the tax payable by your estate, especially in the unlikely, but possible, event that you and your spouse die at the same time. How should you word your
will to minimise inheritance tax?
Published 04.07.2017