£5.1bn paid in inheritance tax last year – 5 steps to cut your bill

The residence nil rate band (RNRB) frees over 20,000 people from inheritance tax The RNRB was incrementally introduced in 2017/18, becoming fully available by 6th April 2020. Now when residential property is left to direct descendants, in addition to the standard nil rate band of £325,000 you can get up to an additional £175,000 to offset any inheritance tax due on your estate. So we can now see that it freed 20,200 people from inheritance ……read more>>>