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Where Taxpayers and Advisers Meet

Residence Nil Rate Band / Extended relocation period

forest24
Posts:3
Joined:Tue May 07, 2024 8:14 pm
Residence Nil Rate Band / Extended relocation period

Postby forest24 » Fri Aug 23, 2024 1:49 pm

Hello,

I am a widower in the process of selling our family home and intend
to live at my mothers house / or rent somewhere until I can find
a smaller house to buy. If I were to die before buying the new
house would I lose the combined RNRB of £350k that I was allowed or
would it be applied retrospectively to the house that I am currently
selling? I was hoping not to have to rush into the next purchase..

pawncob
Posts:5176
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Residence Nil Rate Band / Extended relocation period

Postby pawncob » Fri Aug 23, 2024 4:08 pm

If, at the time of death, you don't own a property then no RNRB is available.
With a pinch of salt take what I say, but don't exceed your RDA

Lee Young
Posts:2710
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: Residence Nil Rate Band / Extended relocation period

Postby Lee Young » Thu Aug 29, 2024 5:52 pm

But downsizing relief would apply, to give you the allowance, asuming all the other requirement are met.
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701


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