The Budget 2017

RJMS Health Care Accountants COVID-19 summary of government offers & business support guide.

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Inheritance Tax


As previously announced, the nil rate band remains frozen at £325,000 until the end of 2020/21. The ‘residential nil rate band (RNRB) enhancement’ on death transfers applies where a taxpayer’s residence (or assets representing one following a sale) is left to direct descendants. It has been phased in over four years, and the full value of £175,000 applies from 6 April 2020. A married couple will be able to leave £1 million free of IHT to their descendants (£325,000 plus £175,000 from each parent), but the rules are complicated. The Budget contained nothing new on IHT.