The new Inheritance tax allowance, the residence nil rate band, is mainly being talked about in relation to couples passing their home on to their children.

If agricultural property relief applies to farm assets they can be completely free of inheritance tax, but it isn't easy to claim because conditions need to be met at the time the time the gift is made.

This interesting article highlights the way the new residence nil rate band can be used by farming families to minimise the inheritance tax bill and looks at the interaction between agricultural property relief and the new residence nil rate band.