The Nil Rate Band (NRB), also known as the Inheritance Tax (IHT) threshold, is the amount up to which an Estate has no IHT to pay. The current allowance available on the Estate of an individual is £325,000; anything above this is taxed at 40%. The NRB applies to property passing on death together with … Continue reading What is the Nil Rate Band?
Christmas is a time for giving...and most people are very happy if you give them money! However, it is worth remembering your allowances and exemptions for Inheritance Tax. If your estate is worth more than the Inheritance Tax threshold - £325,000 for the 2013-14 tax year - there are some important Inheritance Tax exemptions that … Continue reading Giving at Christmas – Inheritance Tax Allowances & Exemptions