Part 2: Inheritance Tax Section 9: Increased nil-rate band on death where home inherited by descendants etc. Summary
This section introduces a new additional residence nil-rate band for inheritance tax (IHT) when a home is passed on death to direct descendants of the deceased on or after 6 April 2017. The maximum amount of the band will increase in stages up to £175,000 in 2020-21 and any unused band will be transferable to a spouse or civil partner. The section also provides for a tapered withdrawal of the band for estates valued at more than £2 million.