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Consultation on IHT main residence nil-rate band downsizing proposals

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HMRC is consulting until 16 October 2015 on the detail of proposals to allow individuals downsizing or ceasing to own a home on or after 8 July 2015 to retain the benefit of the new main residence IHT nil-rate band when they pass assets of an equivalent value to direct descendants on death. This measure was announced in Summer Budget 2015 for inclusion in Finance Bill 2016.

The technical note provides further details of proposals and gives some examples to illustrate how they would apply. It also asks whether the details need further clarification and seeks views on the issues and practical difficulties in implementing the proposals. See

Issue: 1278
Categories: News , IHT