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)
““Terence, this is stupid stuff:
You eat your victuals fast enough;
There can’t be much amiss, ‘tis clear,
To see the rate you drink your beer.”
—A.E. (Alfred Edward)
“Citizen’s Band radio renders one accessible to a wide variety of people from all walks of life. It should not be forgotten that all walks of life include conceptual artists, dry cleaners, and living poets.”
—Fran Lebowitz (b. 1950)