The Family Legacy

Understanding Residence Relief Planning for Your Family Home

By @thefamilylegacy

When planning how your estate will be passed on, two terms often cause confusion: property relief and residence relief. They sound similar but serve very different purposes, and knowing the difference can make a significant difference to the inheritance tax your family may eventually pay. This article explains what each one is, how they work in practice, and what they mean for someone thinking about their estate. What is residence relief? Residence relief is more formally