Practical Law UK Glossary 6-620-8449 (Approx. 3 pages)
Glossary
Residence nil rate band (RNRB)
An amount of a chargeable transfer of value on death on which inheritance tax (IHT) is charged at 0% (that is, on which there is no IHT to pay). It can be claimed where the deceased dies on or after 6 April 2017 and disposed of his interest in a residence to a lineal descendant (for example, a child or grandchild).