HMRC update trusts and inheritance tax guidance

Released 11 August 2017

HMRC have updated two of their existing online guides and published a new guide providing latest guidance on the additional tax-free inheritance tax threshold (sometimes known as the residence nil rate band (RNRB)).

The guide Trusts and Inheritance Tax, which explains that inheritance tax may be due on assets when they're transferred into or out of trust and on certain trusts at each 10-year anniversary, has been updated to include guidance on how trusts affect the availability of the additional tax-free inheritance tax threshold (RNRB).

The guide Inheritance Tax: transferring unused tax-free thresholds, which explains the rules for transferring any unused basic and additional inheritance tax thresholds, has been updated to add information about how to transfer the higher threshold (RNRB).

The new guide How downsizing, selling or gifting a home affects the additional Inheritance Tax threshold explains how to check if an estate can get the extra inheritance tax threshold (known as a downsizing addition) when someone downsizes, gifts or sells their home before they die.

View the guides at:

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