- Draft Finance Bill 2016—the residence nil rate band
- 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?
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.
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