What is a Residence Nil Rate Band (RNRB)?


The Residence Nil Rate Band (RNRB) is an additional allowance against inheritance tax (IHT) charged on a deceased person’s estate. The RNRB can be offset against the value of a person’s residence so long as it passes to lineal descendants (i.e. children, grandchildren, step-children/grandchildren, adopted children/grandchildren, foster children). The RNRB was introduced in 2017 and currently stands at £175,000. One point to note is that for every £2 that an individual’s estate exceeds £2 million pounds, the available RNRB will be tapered by £1.


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