Article preview: A question we’re often asked when it comes to inheritance tax planning is how to transfer any unused nil rate band. Since 9th October 2007, it’s been possible to transfer any unused percentage of the nil rate band from a deceased spouse or civil partner to the surviving spouse or civil partner. This transferable nil rate band is available to survivors of a marriage who die on or after 9th October 2007, regardless of when the first spouse died. In the case of civil partners, the rules are slightly different and the first death must have taken place on or after 5th December 2005. This was the date when the Civil Partnerships Act received Royal assent in the UK.
Transferring an unused inheritance tax nil rate band
This 517 word blog post explains the rules and mechanics behind transferring an unused inheritance tax nil rate band and also how this applies to the new residence nil rate band. Written on 4th January 2019.
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