Enter to open, tab to navigate, enter to select
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.
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.