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Inheritance tax: the transferable nil rate band: when it applies, how to claim and why nil rate band discretionary trusts are still useful

Resource type: Practice note

Status: Maintained

Jurisdictions: England, Wales

This practice note explains what the inheritance tax nil rate band is and how spouses and civil partners can benefit from the changes introduced by the Finance Act 2008, which permits a transfer of any unused nil rate band to the surviving spouse/civil partner's estate on death. It also explains why nil rate band discretionary trusts are still useful, notwithstanding these changes.

Andrew East, Prettys, PLC Private Client

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Resource ID: 4-382-1329
Products: PLC Private Client
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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