In this instalment of Common Questions let’s talk about the Property Protection Trust (PPT) and the residence nil rate band (RNRB).
So far, we have explored how to potentially save up to £650,000 from being taxed, now I am going to explain where the remaining £350,000 comes from!
For the purposes of this article we will look at the IHT charge payable on death which relates to the deceased’s estate.
With the introduction of the Finance Act 2006 the possibility of using lifetime planning for saving inheritance tax was severely restricted using lifetime settlements.
A survivorship clause is a clause in a will that makes a gift to a beneficiary conditional upon them surviving the testator by a set period of time.
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