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RNRB
Regarding the Residential Nil Rate Band, if the children own 40% of the family home which is occupied by the parents, who pay pro rata rent to the children, and the parents leave their 60% share of the family home to their children, can the RNRB be claimed on the 60% of their share?
Re: RNRB
The RNRB is not, as such, offset against the value of any residential property but is set against the aggregate death estate.
The RNRB will be available if the 60% interest is left to the children. It seems the lifetime gift of 40% gave rise to a gift with reservation although this has been alleviated by the paying of a market rent.
The RNRB will be available if the 60% interest is left to the children. It seems the lifetime gift of 40% gave rise to a gift with reservation although this has been alleviated by the paying of a market rent.
Return to “Inheritance Tax, IHT, Trusts & Estates, Capital Taxes”