How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TonyTax Your Own Question
TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15950
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
13905389
Type Your Tax Question Here...
TonyTax is online now

I am 89 .single .All my immediate family are dead .My estate

Customer Question

I am 89 .single .All my immediate family are dead .My estate is to be equally divided between one nephew and two nieces .Total involved say£870,000 . Can my exors. claim the new £5000 N.R.B.
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

Hi.

I'm afraid that the IHT changes announced in the budget will only apply to those leaving a property to their children or grandchildren so your executors will not be able to utilise the extension of the nil-rate band.

Take a look here for more information on the changes and how they will work.

I hope this clarifies things for you but let me know if you have any further questions.

Expert:  TonyTax replied 2 years ago.
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?