The Residence Nil Rate Band (RNRB)
The Residence Nil Rate Band (RNRB) is an allowance to set against Inheritance Tax that has been in force since April 2017.
It supplements the Nil Rate Band (NRB), currently £325,000, which is available to everyone. The RNRB, however, is not available to everyone.
To see whether the RNRB is available to your estate see the below flowchart. For more information on Inheritance Tax and estate planning please contact Alexandra Gordon.