Q&As

Would the residence nil rate band (RNRB) and the transferable RNRB be available where an individual (W) gifted their house to their adult child in 2003 but continued to live in the property without paying rent (ie a gift with reservation of benefit) until they moved into care one year before their death in 2019? W’s spouse (H) died in 1987. What is the capital gains tax position in relation to the uplift in value of the property?

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Produced in partnership with Paul Davies of Clarke Willmott
Published on LexisPSL on 18/04/2019

The following Private Client Q&A produced in partnership with Paul Davies of Clarke Willmott provides comprehensive and up to date legal information covering:

  • Would the residence nil rate band (RNRB) and the transferable RNRB be available where an individual (W) gifted their house to their adult child in 2003 but continued to live in the property without paying rent (ie a gift with reservation of benefit) until they moved into care one year before their death in 2019? W’s spouse (H) died in 1987. What is the capital gains tax position in relation to the uplift in value of the property?

Would the residence nil rate band (RNRB) and the transferable RNRB be available where an individual (W) gifted their house to their adult child in 2003 but continued to live in the property without paying rent (ie a gift with reservation of benefit) until they moved into care one year before their death in 2019? W’s spouse (H) died in 1987. What is the capital gains tax position in relation to the uplift in value of the property?

There are a number of conditions that must be satisfied for the residence nil rate band (RNRB) to be available on a person’s death. The answer requires a consideration of those conditions in circumstances when a property is deemed to have been a part of a person’s estate under the gift with reservation of benefit rules, instead of actually being comprised in the estate at death.

In the scenario of this Q&A, it will

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