Nil Rate Band
The nil-rate band is the value of an estate that is not subject to Inheritance Tax in the United Kingdom. Chargeable lifetime transfers and the chargeable estate on death above this amount are liable for IHT.
Read more about Nil Rate Band: Historical Rates
Famous quotes containing the words nil, rate and/or band:
“Cows sometimes wear an expression resembling wonderment arrested on its way to becoming a question. In the eye of superior intelligence, on the other hand, lies the nil admirari spread out like the monotony of a cloudless sky.”
—Friedrich Nietzsche (1844–1900)
“I don’t know but a book in a man’s brain is better off than a book bound in calf—at any rate it is safer from criticism. And taking a book off the brain, is akin to the ticklish & dangerous business of taking an old painting off a panel—you have to scrape off the whole brain in order to get at it with due safety—& even then, the painting may not be worth the trouble.”
—Herman Melville (1819–1891)
“What passes for identity in America is a series of myths about one’s heroic ancestors. It’s astounding to me, for example, that so many people really seem to believe that the country was founded by a band of heroes who wanted to be free. That happens not to be true. What happened was that some people left Europe because they couldn’t stay there any longer and had to go someplace else to make it. They were hungry, they were poor, they were convicts.”
—James Baldwin (1924–1987)