The Residence Nil Rate Band : Will you benefit from the new rules?
The Residence Nil Rate Band was introduced by the Government on 6th April 2017 and reflects the Conservative’s pledge in 2007 to increase the Inheritance Tax Nil Rate Band to £1million for married couples and those in a civil partnership.
THE NIL RATE BAND (NRB)
Inheritance tax is charged at a rate of 40% on the amount over which an individual’s estate exceeds their NRB (currently £325,000 and frozen until tax year 2020/21), after exemptions and reliefs, when they die. The NRB can also be reduced by certain gifts made within 7 years of death.
Any unused NRB of the first spouse or civil partner to die can be claimed on the second spouse’s or civil partner’s death. For example, in a straightforward case of the first spouse or civil partner leaving their estate to the survivor, a combined NRB of £650,000 could be offset against their estate.
Denne historien er fra May 2018-utgaven av Derbyshire Life.
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Denne historien er fra May 2018-utgaven av Derbyshire Life.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Can Plants Hear?
In the latest in his series on the intelligence of plants, Martyn Baguley analyses whether they have the ability to hear
Peak National Park and Ride
Andrew Griffihs asks what the future holds for transport in the Peak National Park and talks to Julian Glover about his Landscapes Review
Doubly thankful
Mike Smith explores the village of Bradbourne, which has a particularly poignant tale to tell
What lies beneath
Exploring the hidden depths of Ladybower Reservoir, which conceals secrets of a fascinating past
Battle for our birds
Paul Hobson analyses our complex relationship with birds of prey and how these fascinating birds are fairing in Derbyshire
Explore the Peak Forest
A walk through autumn fields and forests with far reaching views enriched by snippets of mystery, romance and the area’s industrial past
Pictures to transport you
Chesterfield photographer David Keep continues his photographic journey, this time recalling his favourite landscape images from around the world
The magic of Christmas
Ideas for days out, gifts and where to find local produce in Derbyshire this festive season
PENNY for the Guy
We take a look at Derbyshire’s bonfire tradtions through history
From hardship came happiness
Pat Ashworth speaks with Chesterfield based retired Colonel John Doody about his inspiring life, from a diffiult childhood to overcoming diversity and finding happiness
