Since 2009, the nil rate band has been frozen at £325,000 per person, with no sign of increasing. As property prices have increased during this time, more families have been pushed over the threshold, facing Inheritance Tax (IHT) of 40% on the excess.
26th August 2021 general
The Residence Nil Rate Band was introduced to combat this, and to avoid families being penalised on the rising value of their family home.
