Keyword Analysis & Research: transferable nil rate band rules

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Frequently Asked Questions

How do I transfer unused Nil Rate Band?

Inheritance Tax: claim to transfer unused nil rate band (IHT402) Use the IHT402 with form IHT400 to transfer to the deceased's estate any unused Inheritance Tax threshold (or 'nil rate band') from the previously deceased spouse or civil partner.

What is the Nil Rate Band?

A widely used, if somewhat misleading, shorthand for the inheritance tax provisions that enable the estate of a surviving spouse or civil partner to benefit from the unused nil rate band of the first of the couple to die. Every individual, whether single, married or in a civil partnership has their own nil rate band.

Can I transfer an inheritance tax nil band to my surviving spouse?

It's possible to transfer any unused percentage of the inheritance tax nil rate band from a deceased spouse or civil partner to the surviving spouse or civil partner. A formal claim process is in place when the surviving spouse dies and not when the first spouse dies.

What is the residence Nil Rate Band (RNRB) for inheritance tax?

How to work out and apply the residence nil rate band (RNRB) for Inheritance Tax in different circumstances. If someone dies and their estate is worth more than the basic Inheritance Tax threshold, their estate may qualify for the residence nil rate band ( RNRB) before any Inheritance Tax is due.

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