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<p>At Summer Budget 2015, the government announced the introduction of a ‘residence
nil rate band’ for inheritance tax when a home is passed on death to a direct descendent.
It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000
in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase
the inheritance tax free threshold to £500,000 for many individuals, and up to £1
million for many married couples and civil partners by 2020-21.</p><p> </p><p>The
latest estimates of the cost to the exchequer of introducing the residence nil rate
band from 2017-18 to 2021-22 are published in Table 2.2 of the Spring Budget 2017
official publication at:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597467/spring_budget_2017_web.pdf"
target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597467/spring_budget_2017_web.pdf</a></p><p>
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