Inheritance tax

[Jailor]

Good day to all.

My mother has just passed away and I have started to look at probate for her estate. I have done this once before in February this year when my father passed, yes it's been one hell of a year.

My question is, if labour get into government this week and carry out there policy of reducing nil rate tax band to £125k, will the rules apply from my mother's death and remain at £925k.*

This figure is worked out from the NRB and RNRB.

Thanks and best wishes to all for Christmas and the new year.

[Amethyst]

Oh goodness I'm so sorry for your loss xxxx

The thresholds and rates for IHT apply as at the date of death, so current rates will apply. From your figure I'm guessing you transferred your fathers unused allowance to add to your mothers and the house is passing to their children and it's all quite straightforward.

[Jailor]

Thank you for taking the time to reassure me. I appreciate it.