Summer Budget 2015: Inheritance Tax – Residence Nil Rate Band and Existing Nil Rate Band
News - Briefing
Date: 10/07/2015 Authors : Diana Davidson, Catherine McAleavey
The Existing Nil Rate Band At present inheritance tax is payable at a rate of 40% on the taxable value of a deceased person's net assets (an "estate") where that value, including the value of any taxable lifetime gifts, exceeds £325,000. The range of values from £0 - £325,000 is generally known ...