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Residence nil rate band

Inheritance Tax 2023/24

Authors:
Mark McLaughlin, CTA (Fellow) ATT (Fellow) TEP , Iris Wünschmann-Lyall, MA (Cantab) TEP , Chris Erwood, CTA ATT TEP , and Stephen Howe
Publisher:
Bloomsbury Professional
Publication Date:
February 2024
Law Stated At:
22 November 2023
Chapter 16: The family home and residence nil rate band Introduction Tapered withdrawal Eligibility and amount Qualifying residences, etc The legislation sets out the meaning of ‘qualifying residential interest’, ‘qualifying former residential interest’ and ‘residential property interest’, in the context of the residence nil rate band, including for downsizing purposes and cases involving conditional exemption ( IHTA 1984, s 8H ). ‘Inherited’ and ‘closely inherited’ Transferable allowance Claims for the transferable residence nil rate band Conditional exemption ...

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