Coronavirus and the perils of signing your Will
The relief started in April 2017 with £100,000 nil rate band per person and has increased by £25,000 every 6th April until it has reached £175,000, the maximum level. This nil rate band benefits people leaving their residence down to their children or grandchildren. This is in addition to the traditional nil rate band of £325,000.
For a couple, when passing assets down to their children, they can benefit from 2 x traditional nil rate band totalling £650,000 and 2 x residence nil rate band totalling £350,000, which equates to £1 million.
This is a complicated relief to maximise, so if you have any questions please contact the Kingsley Napley Private Client team.
James Ward heads the Private Client team at Kingsley Napley and is tasked with overseeing the continued development of the private client offering for both existing and new clients of the firm. His objective is for the Private Client team to offer the highest quality legal, practical and commercial private client advice for both domestic and international families and individuals.
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