Beware the “man at a dinner party” who passes on tax advice – or the daily papers.
One national paper recently produced an article helpfully alerting readers to the advantages of the Residence Nil Rate Band (RNRB). It referred to it being available where a house is left to children via “partners”, which implies unmarried partners (or the so-called common law spouse). Unfortunately for anyone relying on the information without specialist advice (yes, some people do), the allowance can only be used if it is a registered civil
partner, or spouse. Just one little word, but a significant difference for your significant other! The RNRB will soon be worth up to £140,000 in tax savings.
For specialist advice on Inheritance Tax please contact one of our Private Wealth Solicitors.Milton Keynes
- Carolyn Bagley, on 01908 247015 or click here
to email Carolyn.Cambridge
- Emma Satterly, on 01223 461155 or click here
to email Emma.Northampton
- Antonia Cooper, on 01604 463314 or click here
to email AntoniaLondon
- Francesca Rossi, on 020 7831 8888 or click here
to email Francesca.