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)
“Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.”
—Ralph Waldo Emerson (1803–1882)
“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)