Nil rate band (NRB) | Practical Law
Nil rate band (NRB)
Enter to open, tab to navigate, enter to select
US Home
Global Home
NEW
Sign in
Sign in
All content
Search:
Search Westlaw
Search Tips
Advanced
Nil rate band (NRB)
Practical Law UK Glossary 1-382-5649
(Approx. 7 pages)
Glossary
Nil rate band (NRB)
The amount of a
chargeable transfer
on which
inheritance tax
(IHT) is charged at 0% (that is, on which there is no IHT to pay).
For more information, see Practice notes:
Tax data: inheritance tax: Nil rate band
. This lists the current value and previous values of the nil rate band.
Inheritance tax: overview: The nil rate band
.
Finance (No. 2) Act 2015 provides for an additional IHT
residence nil rate band (RNRB)
when a residence is passed on death to direct descendants. The measure will have effect for deaths on or after 6 April 2017.