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 JGM Your Own Question
JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 12533
Experience:  30 years as a practising solicitor.
31090051
Type Your Law Question Here...
JGM is online now

Is the UK government intending to raise the inheritance tax

This answer was rated:

Is the UK government intending to raise the inheritance tax threshold in the near future

Thank you for your question. The existing nil rate band of £325000 is set until the end of the tax year 2020/2021. The residence nil rate band is £125000 for the current year 2018/2019 and will increase by £25000 per year for each of the following two tax years. I hope that helps. Please leave a positive rating so that I am credited for my time.

Customer: replied 3 months ago.
Do we know how much the new nil rate band will rise to at end of 2020/21

No. That would be a budget decision for the chancellor between now and then.

JGM and other Law Specialists are ready to help you