Disney CastleFrom April 2017, the residence nil rate band comes into being.

The Conservative Party’s manifesto for the 2015 election promised to “take the family home out of tax by increasing the effective Inheritance Tax threshold for married couples and civil partners to £1 million.”

The legislation which starts the first stage of this process comes into effect on 6 April 2017, but it will not be quite as simple as the manifesto sounded:

With the imminent introduction of the RNRB, it makes sense to review your estate planning now to see what impact it may have. Maybe you should revise your will or consider making lifetime gifts to limit the impact of tapering. As the tax year end approaches, why not add estate planning to your year-end review list?

Call us today on 020 8559 2111 to see how we can help you plan to reduce your inheritance tax bill.

[highlight]The value of tax reliefs depends on your individual circumstances. Tax laws can change. The Financial Conduct Authority does not regulate tax advice.[/highlight]