Hello all,
Bit of background required to help you understand the situation.
Dad has died and has left the following in his will to the trustees and executors (his two sons)
House worth between £325k and £335k
Bank account £152k
Life Insurance pay out £24k
Am I correct in thinking the £325k nil band rate comes in to effect followed by £175k residents nil band rate?
I’m being confused by many but I am reading it that the residents £175k comes into effect as the house has been left to the sons in his will.
Can anyone confirm or deny this please?
Thank you in advance
Lara
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