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    factsheet

    The new residence nil-rate band explained

    Published 26 July 2017

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    The residence nil rate band (RNRB) arose from the Conservative Party’s 2007 statement of their wish to increase the inheritance tax nil rate band to £1m.

    The RNRB is available for deaths on or after 6 April 2017, where the deceased owned a home, or share of a home, which is inherited by their direct descendants.

    It will be phased in, starting at £100,000 for tax year 2017-18 and rising by £25,000 per year until it reaches £175,000 on 6 April 2020.