Darling has said he will raise the threshold to £600,000 for couples. As the individual allowance is already £300,000, what is the difference?
A Nil Rate Band Trust in a will allows £600,000 to be used now without giving anything away so I am confused.
Does this mean the allowance is £600,000 on death of the last survivor even without NRB Wills?
2007-10-09 06:59:57 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
"Does this mean the allowance is £600,000 on death of the last survivor even without NRB Wills?"
YES (it's also 'back dated' i.e. if one spouse has already died, the survivor gets the 600k even without NPB Trust).
2007-10-09 22:02:45 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
Yes. Darling's announcement makes nil rate band Wills unnecessary.
2007-10-09 14:04:51 · answer #2 · answered by Anonymous · 1⤊ 0⤋