Fiona_TG
LE

I appreciate there are other IHT threads but rather than hijack them for my need I thought it might be better to start a new and fresh one.
I have just rechecked IHT matters as I do every so often to make sure that if the 99 bus gets me (maybe COVID in this day and age) I have made best arrangements for my daughter to inherit my estate.
I see that the Main Residence Nil-Rate Band seems to allow up to £500k tax free but I also read (as per the enclosed link) that "RNRB helps direct descendants inherit a property up to £2M tax free". So which is it or am I reading things too simply?
Do I have to pay inheritance tax on my parents’ house? - Money To The Masses
I have just rechecked IHT matters as I do every so often to make sure that if the 99 bus gets me (maybe COVID in this day and age) I have made best arrangements for my daughter to inherit my estate.
I see that the Main Residence Nil-Rate Band seems to allow up to £500k tax free but I also read (as per the enclosed link) that "RNRB helps direct descendants inherit a property up to £2M tax free". So which is it or am I reading things too simply?
Do I have to pay inheritance tax on my parents’ house? - Money To The Masses