Work out and apply the residence nil rate band for Inheritance Tax

Implications for IHT Business Relief in light of the Tanner case

The Tanner case is the latest in a long line of cases where the application of IHT business relief in the context of let properties has been considered, says Gerry Brown, trust and estate planning consultant at QB Partners.  Ms Gertrude Tanner died on 17 September 2017. Her estate included a holiday accommodation business. At the time of her death, there were five active self-catering holiday letting units in Sandsend, near Whitby valued at £2,0…

Work out and apply the residence nil rate band for Inheritance Tax

How to work out and apply the residence nil rate band (RNRB) for Inheritance Tax in different circumstances.

Over 60s warned of ‘risky pension oversight’ that can make big inheritance tax difference

Thousands of Britons are being urged to nominate who they’d like to inherit their pensions, as nearly half of people aged over 60 admit they haven’t. An expression of wish (EOW) allows people to instruct who they would like to receive their pension when they die, and thousands are yet to complete one. Experts have warned that it’s a “risky oversight” to ignore, and that it could save families thousands of pounds in inheritance tax (IHT) by sorti…

IHT and pensions: Why it pays to name a pension beneficiary