Residence Nil Rate Band (RNRB).
A new tax-free allowance was announced in the Summer Budget 2015 (the Residence Nil Rate Band) that will take effect on or after 6th April 2017. Downsizing provisions have yet to be finalised.
There are a lot of myths and misconceptions surrounding this new allowance - please call or view our website pages (not yet updated) for further information - including:
You may not get the full allowance (or double the allowance) if:
WATCH THIS SPACE!
Do you already have a Will? Are you concerned or confused by the all Budget announcements and the impact on your Will?
There are many reasons to be concerned about the validity of your Will. Many Wills contain errors – whether DIY Wills and regardless of who they were drafted by – that create major problems when it comes to the administration of the estate. Or perhaps the Will hasn’t been signed and witnessed properly. There may be changes to legislation or your own personal situation such that your requirements may no longer be met or Inheritance Tax may be payable where it wasn’t when the Will was initially drafted. You may want your Will to be reviewed by a professional. Contact us now! This review service is free.
Send a copy of the Will to us together with brief notes explaining your situation and requirements and we will review your Will free of charge to make sure it is valid and meets your requirements and to see what impact the latest Budget may have had.
Please note that (subject to demand) the review of your Will may take up to 15 working days. We will send or email you a review detailing our view on the current provisions in your Will relative to your stated situation and requirements and current legislation, including the effects of previous Finance Acts.
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