INHERITANCE TAX: More detail from HMRC on residence nil-rate band rules

HM Revenue & Customs has amended its guidance on the rules relating to the additional residence nil-rate band for inheritance tax. The new advice relates to the transfer of a spouse’s unused tax-free threshold; how the residential nil rate band can be affected by downsizing, selling, or gifting a home before death; and how the availability of the residential nil rate band may be affected by the existence of a trust.

Transfer –
Downsizing –
Trusts –