Help on understanding failed PETs and the RNRB

[coopster]

Based on the following scenario, could someone give me their view on whether my conclusions are correct for an unmarried individual:
Gift of £20,000 made to grandchildren in February 2010
Home sold for £400,000 in September 2015 (i.e. after RNRB rules become active). Moves into care home.
Further gift of £100,000 made to same grandchildren in October 2015
Current remaining savings of £340,000

If the individual died today and the estate is left to grandchildren would the calculation be:
Failed PETs = £100,000 (Feb 2010 PET is successful as over 7 years passed although does the second gift reset the 7 year clock?)
Savings = £340,000
Estate on Death = £440,000
Less basic threshold = - £325,000
Remaining value = £115,000
Less additional RNRB threshold = - £100,000 (claiming downsizing addition)
Amount that Inheritance Tax is due on = £15,000

Many thanks in advance for any help.

[Lee Young]

The RNRB should be available in full, depending on who the estate goes to.

The RNRB is now £125,000

[maths]

As Lee indicates RNRB available if £125k of deceased's estate inherited by issue of the deceased (eg. children, g'children).