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A sop for middle England

08 September 2015 / Helena Luckhurst , John Woolley
Issue: 4517 / Categories: Comment & Analysis , Inheritance Tax
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The new residence nil rate band.

KEY POINTS
  • The residence nil rate band will come into effect on 6 April 2017.
  • The £2m threshold and residence nil rate band will increase in line with CPI from April 2021.
  • Unused residence nil rate band can be transferred between spouses or civil partners.
  • Effect of house inflation on the new band.
In the past the Conservative party has said it would like to increase the nil rate band threshold so that only the wealthy pay inheritance tax. So the pledge in its election manifesto to exempt from inheritance tax family homes worth up to £1m came as no surprise. 
 
Whether one agrees with this tax concession – many...

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