Q&As

When calculating the value of the estate to determine whether the tapering provisions of the residence nil rate band (RNRB) apply to reduce the available RNRB, should the value of a life interest trust be taken into account?

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Published on LexisPSL on 09/06/2021

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  • When calculating the value of the estate to determine whether the tapering provisions of the residence nil rate band (RNRB) apply to reduce the available RNRB, should the value of a life interest trust be taken into account?

When calculating the value of the estate to determine whether the tapering provisions of the residence nil rate band (RNRB) apply to reduce the available RNRB, should the value of a life interest trust be taken into account?

As set out in Practice Note: IHT—residence nil rate band, the default residence nil rate band (RNRB) allowance is reduced where the value of the deceased’s estate exceeds the taper threshold of £2m. The same threshold applies irrespective of whether the default allowance includes a transferable NRB. In other

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