What is a nil rate band and how do I transfer it to my spouse or civil partner?
• The law has been changed so that for deaths on or after 9 October 2007 it is now possible for the first spouse or civil partner to die to transfer the remaining proportion of their unused Inheritance Tax nil rate band. • Where a claim to transfer unused nil-rate band is accepted by HMRC, the nil-rate band that is available when the surviving spouse or civil partner dies will be increased by the proportion of the nil-rate band unused on the first death. • If the nil-rate band when the survivor dies is £350,000, then that would be increased by 50% to £525,000. Click here for more information and examples.
Related Questions
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- What is a nil rate band and how do I transfer it to my spouse or civil partner?
