Residence Nil Rate Band & What It Means For You
The new RNRB, also known as Family Home Allowance, can effectively increase your inheritance tax threshold. When someone dies, the total value of their ‘Estate’ (meaning everything he/she owned) must be valued. If the total value is above a certain threshold, Inheritance Tax must be paid. Presently, the threshold for Inheritance Tax is £325,000 for […]
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