Two Settlor Trust and Nil Rate Band

[umeshg1]

Two settlors settle their share in a property in one trust only. Question is . When calculating 10 yearly charge do we use two sets of NRB or are only allowed to use one.

Thank you

[maths]

IHTA 1984 s 44 states that where more than one person is a settlor in relation to a trust the effect may be to treat the settled property as if it was comprised in two separate settlements.

In such cases each settlement will have the benefit of any unused part of that particular settlor's NRB.

[umeshg1]

Thank you for clarification