Can someone answer this scenario.
Wife no 1 dies and leaves all of estate to husband.
He makes CLTs during his life to the limit of is nil rate band.
He remarries and then dies leaving whole of estate to wife 2.
Wife no 2 dies.
Does wife no 2 get 2 NRBs, which is in effect wife no 1s NRB as husband used his own NRB on CLTs?
Transferable nil rate band
3 posts • Page 1 of 1
Transferable nil rate band
by Paula Henderson on Fri Oct 28, 2011 12:14 pm
- Paula Henderson
- Posts: 40
- Joined: Mon Jul 26, 2010 10:17 am
Re: Transferable nil rate band
by pqtaxation on Fri Oct 28, 2011 12:52 pm
Yes
See worked example in HMRC manual 43032 at
http://www.hmrc.gov.uk/manuals/ihtmanual/IHTM43032.htm
See worked example in HMRC manual 43032 at
http://www.hmrc.gov.uk/manuals/ihtmanual/IHTM43032.htm
- pqtaxation
- Posts: 341
- Joined: Wed Aug 06, 2008 3:38 pm
Re: Transferable nil rate band
by Paula Henderson on Fri Oct 28, 2011 12:58 pm
Thank you. Much appreciate your research.
- Paula Henderson
- Posts: 40
- Joined: Mon Jul 26, 2010 10:17 am
3 posts • Page 1 of 1
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