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Inheritance Tax - Is my understanding correct?
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No, the NRB covers any part of the estate, the RNRB just the residential part of it. So I’d the second space died leaving a £1M house and nothing else then both set of NRBs and RNRBs will cover the entire estate.Tixallman said:Hello I am going through this and find it very complex. rumble Jumble above said that the PROPERTY was worth £800,000, not the estate, and that is well above the RNRB for a married couple of £350,000 so wouldn't that attract IHT of somewhere in the area of £180,000? I hope I am wrong......0
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