Convenient Wills, 16 Thomas Avenue, Newcastle-
Reliefs and Exemptions
The Transferable Nil Rate Band allowance was introduced in October 2007.
The TNRB Can be claimed by the surviving spouse or civil partner.
How It Works
The TNRB Allowance enables a widow or widower to uplift their [deceased] spouse’s unused NRB allowance. An example will explain what we mean.
If we assume that ‘hubby’ ‘H’ dies and gives everything to his surviving wife ‘W’ -
The TNRB Allowance removes the need for complex Nil-
For unmarried couples, business owners, and where families have concerns regarding future marriages etc the IHT NRB discretionary trust remains as important as before.