Tag Archives: Residence Nil Rate Band

Is Your Estate Worth More Than £2 Million? The Inheritance Tax Trap You May Not Know About

Woman on the phone thinking about is Your £2 Million Estate Facing an Inheritance Tax Trap?

Many people know that Inheritance Tax is normally charged at 40%. Far fewer realise that once an estate exceeds £2 million, another valuable Inheritance Tax allowance starts to disappear. This can mean that, for some estates, reducing the value by £1 can potentially save 60p in Inheritance Tax. What is the Residence Nil Rate Band?