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Where Taxpayers and Advisers Meet

IHT transferable residential Nil rate band

bluetaxi
Posts: 9
Joined: Wed May 09, 2012 3:35 pm

IHT transferable residential Nil rate band

Postby bluetaxi » Mon Jun 24, 2019 2:54 pm

Hello

I would welcome guidance on the following please:

Husband (H) and wife(W) owned two properties, property a) former main residence and property b) current main residence. W died in 2011 and under the terms of her Will a NRB Discretionary will Trust was created. The assets that went into trust were circa 40% of W's interest in both properties.
My question is 3 fold
1. on the second death will the executors be able to claim w's transferable residential nil rate band,
2. If so, will this be £150K, assuming second death occurs this tax year, or is it limited to the value of her interest that was not put into trust,
3. Is it permissible for the executors to claim a discount on the husbands death as he held a divided interest in the two properties.

Thank you

Jholm
Posts: 62
Joined: Mon Mar 11, 2019 4:22 pm

Re: IHT transferable residential Nil rate band

Postby Jholm » Mon Jun 24, 2019 3:11 pm

Re: RNRB, 100% was unused at W's death in 2011 as the RNRB has only been in existence since 6 April 2017, therefore 100% uplift is available, provided the relevant conditions are met.


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