Residence Nil Rate Band on the increase

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The Inheritance Tax threshold available for homes inherited by direct descendants – the ‘Residence Nil Rate Band’ – has increased from £125,000 per person to £150,000 per person from 6 April 2019.  The allowance will increase again to £175,000 per person from 6 April 2020.

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At Muckle LLP we provide commercial advice to people in business on wills, trusts and inheritance issues. We will work with your existing professional advisers in accountancy, tax and financial services so that you receive the best all round advice.

If you would like further information please contact Julie Garbutt, Senior Associate, on 0191 2117863 or [email protected]lp.com .