Inheritance Tax: Transferable Nil-Rate Band - Dec 2008

The transferable nil-rate band must be claimed within two years of the second death. On the second death it is important that the relevant information in relation to the first death should be easily to hand. The following evidence in relation to the first death should be preserved:-

• the death certificate
• the deceased's marriage certificate
• the H.M. Revenue and Customs Returns including IHT 200
• the Will
• the Grant of Probate

Clients should collect this information during the lifetime of the surviving spouse as the Solicitors of the first spouse to die are likely to destroy their records after a period of time.

To see more articles, see these pages:

• latest news
• knowledge base