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This article focuses on the UK inheritance tax (IHT) transferable nil rate band (TNRB).  The author does not seek to address issues relating to the residence nil rate band, or the residence [...]

In Loring v The Woodland Trust [2014] EWCA Civ 1314 the Court of Appeal upheld Asplin J’s decision ([2013] EWHC 4400 (Ch)). A gift in a will of “my unused nil rate band for Inheritance Tax” [...]

One of the changes, introduced in Finance Act 2008, was the ability to transfer the IHT nil rate band between spouses and civil partners. This meant couples could leave all their assets to the [...]

For the exercise of a power by trustees (or other donees) to be valid, what is required is not an intention to exercise the specific power, but rather an intention to achieve the desired outcome

Out of the blue and without consultation the Finance Bill 2013 when published contained a shocking provision tucked away in Schedule 34. It is a devastating provision for many farmers and [...]

Prior to Finance Act 2008, it was common Will planning to make sure both spouses used their ‘nil rate band’ for inheritance tax (IHT) in their Wills. Failure to do so meant the nil rate band of [...]

There is now a balance to be struck in deciding whether to include a nil rate band discretionary trust in a Will or to rely instead in the transferable nil rate band. There are still advantages [...]