RNRB??? How much inheritance tax is payable if the RNRB is £175000

[namechangeranonymouse]

Can't make head or tail of it all. This is what the paperwork says.

It depends on the value of the estate, available NRB and value of the main residential house (or any houses sold in 3 years prior)

It depends how much the estate was to start with, and what other relief is available. Essentially, Inheritance tax is paid at 40% on whatever is left after the nil rate bands (RNRB and NRB) have been applied, as well as any transferred relief (from the death of a spouse), assuming the estate is worth less than £2m.

thank you..... I scrolled down the form and there is nothing to pay according to the probate solicitor

there was a gift not declared of £19,500 the month before the person died, so what happens to the amount not covered by the £3000 pa gift allowance???

It gets added to the value of the estate .