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Where Taxpayers and Advisers Meet

Claiming Nil Rate Band Transfer After Grant Of Probate

Joined:Sat Sep 18, 2021 1:45 pm
Claiming Nil Rate Band Transfer After Grant Of Probate

Postby John391 » Sat Sep 18, 2021 1:54 pm

Due to a dramatic rise in house prices recently, the value of the deceased's property has increased since probate was granted, and which has taken value of estate above the £325K threshold. As the available nil rate band transfer was not claimed at the time of the probate application, as the total estate value was well below the £325K threshold, can the NRB transfer be claimed now retrospectively, and if so, how would one go about this please?

Joined:Wed Aug 06, 2008 3:25 pm

Re: Claiming Nil Rate Band Transfer After Grant Of Probate

Postby maths » Sat Sep 18, 2021 5:38 pm

IHT is levied on the value of the deceased's estate at the date of death (ie probate value), not later.

So, even if the house price increased post death this increase will not affect the IHT payable. On a future sale of the property, however, a CGT charge will arise on any gain which arises post death.

There is no point in now claiming, post probate, a transfer of the former spouse's unused NRB.

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