Investment bonds and long-term care (excluding England)
Explains how local authorities in the UK could assess bonds for long-term care.
Residence nil rate band
Understand the factors that affect the availability and use of the residence nil rate band for your clients.
Learn how the residence nil rate band works in the UK
In addition to the Inheritance Tax (IHT) standard nil rate band (NRB) (currently £325,000) a residence nil rate band (RNRB) was introduced from 6 April 2017. This is available when residential property is left to direct descendants.
What is the residence nil rate band? The residence nil rate band is an additional Inheritance Tax allowance that can significantly increase the amount of wealth you are able to pass on tax efficiently when leaving a home to your direct descendants. Although it can be extremely valuable, it is subject to detailed rules and conditions, and it is not available in full to everyone.
This briefing note explains in clear, practical terms how the residence nil rate band works, who can benefit, and the key traps to avoid. It is designed to help you understand the opportunities it offers for family wealth planning, and to identify when more tailored advice may be needed.
Read more about how the residence nil rate band works.
Explore more briefing notes
Access learning materials and support
Find learning
Search our full range of technical support resources, including webinars, briefing notes, videos, and more.
CPD training
Learn more about our selection of live and on-demand training, and find out how you can build your CPD hours with us.
Contact us
As industry-recognised experts, we’re here to provide you with award-winning technical help, support, and guidance.