The Residence Nil Rate Band (RNRB) is an additional factor to take into account when considering estate planning. In addition to the inheritance tax standard nil rate band (currently £325,000) a residence nil rate band has been introduced from 6 April 2017. This is available when residential property is left to direct descendants.
However, the RNRB does come with conditions attached and so may not be available – or available in full – to everyone.
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