AMENDMENTS TO FINANCE BILL CLARIFY RESIDENCE NIL RATE BAND RULES

The government has proposed amendments to the Finance Bill clauses introducing a new inheritance tax residence nil-rate band (RNRB) for deaths from 6 April 2017. The amendments clarify the treatment of family residences inherited through a trust and extend the scope of the RNRB to gifts to the spouses and civil partners of lineal descendants.

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