Home / Private Client / Wills / Will drafting

Legal News

Draft Finance Bill 2016—the residence nil rate band

Copyright © 2025 LexisNexis

Published on: 14 January 2016

Published by a LexisNexis Private Client expert

Table of contents

Original news
What’s the background to the legislative programme introducing the RNRB?
When will the changes in the draft legislation take effect?
Does the RNRB only help those who die once they have downsized to smaller property?
Could the rules be used to release money from a property or to downsize and then leave the money to whomever they want?
What type of properties count as a residence?
How will the rules work between spouses? Is there a transferable residence NRB?
How will the calculations work?
What happens if the estate is very valuable and reaches the taper threshold (currently £2m)?
Are there any planning points to consider at this stage?

Article summary

Private Client analysis: What are the proposed changes to the residence nil rate band (RNRB) included in the draft Finance Bill 2016? Sarah Robinson, private client knowledge lawyer at Penningtons Manches, and Clare Archer, partner at Penningtons Manches, both consider aspects of the draft Finance Bill 2016 relevant to the RNRB.

Popular documents

Where a beneficiary is present when a Will is signed and witnessed, but is not an attesting witness to

Where a beneficiary is present when a Will is signed and witnessed, but is not an attesting witness to the Will, are there any grounds to challenge that beneficiary's entitlement under the Will?See Practice Note: Requirements for a valid Will which sets out the formalities for the proper execution

Contents of Wills-secret and half-secret trusts

Contents of Wills-secret and half-secret trustsA secret or half-secret trust may be useful where a testator wishes to keep the identity of a beneficiary of a testamentary gift outside the text of their Will.Types of secret trustsThere are two kinds of secret trusts:•secret or fully secret

Under section 14B of the Limitation Act 1980, there is a longstop date to make a negligence claim of 15

Under section 14B of the Limitation Act 1980, there is a longstop date to make a negligence claim of 15 years. In the case of a claim against a negligent solicitor in the drafting of a Will, does the longstop time limit begin from the date of the Will being drafted/executed, or from the date of

Failure of gifts—lapse

Failure of gifts—lapseThere are a number of reasons why a gift may fail, including where a gift has lapsed. For further guidance on the various reasons for the failure of a testamentary gift, see Practice Note: Failure of gifts—effects. This Practice Note considers the doctrine of lapse in more