Accounting Journal

Accounting Journal

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Accounting Journal
Accounting Journal
IHT transferable nil rate bands

IHT transferable nil rate bands

Asif Patel's avatar
Asif Patel
Oct 17, 2024
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Accounting Journal
Accounting Journal
IHT transferable nil rate bands
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The nil rate band is the amount that a person may leave free of inheritance tax. Each person has their own nil rate band, which for 2024/25 is set at £325,000. A person’s estate may also benefit from a further nil rate band – the residence nil rate band (RNRB) – where they leave a residence to a direct descendant or descendants.

The nil rate band is avai…

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