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)
“Unless a group of workers know their work is under surveillance, that they are being rated as fairly as human beings, with the fallibility that goes with human judgment, can rate them, and that at least an attempt is made to measure their worth to an organization in relative terms, they are likely to sink back on length of service as the sole reason for retention and promotion.”
—Mary Barnett Gilson (1877–?)
“And the heavy night hung dark
The hills and waters o’er,
When a band of exiles moored their bark
On the wild New England shore.”
—Felicia Dorothea Hemans (1783–1835)