Under section 39 of the Adoption Act 1976 and subsequently section 67 of the Adoption and Children Act 2002 for adoptions after 30 December 2005, following adoption an adopted child is to be treated as a child of their adoptive parent and is not to be regarded as a child of any other person. This provides for the adopted child to take on intestacy an interest in their adoptive parents’ intestate estates, but conversely also excludes the adopted person from taking on intestacy an interest in their biological parents’ intestate estates. The Inheritance and Trustees’ Powers Act 2014 provides that for an adoption on or after 1 October 2014, if the adopted child attains an interest in the intestate estate of one

For general information on the residence nil rate band (RNRB) and the conditions for it to apply, see Practice Note: IHT—residence nil rate band. In particular, in order for the RNRB to be available, a qualifying residential interest must be closely inherited on the deceased’s death. The property or QRI does not have to pass to an absolute owner in order for the RNRB to apply. It may be held on trust for a lineal descendant as a beneficiary of certain types of trust. Where the QRI is left on trust such that it becomes settled property following the deceased’s death, it is only ‘closely inherited’ for RNRB purposes if the trust qualifies as an immediate post-death interest (IPDI) or a disabled person’s interest, a bereaved minor’s trust (BMT) or an 18–25 trust (section 8J(4) of the Inheritance Tax Act 1984

For general information on the residence nil rate band (RNRB), see Practice Note: IHT—residence nil rate band. The RNRB is available to be set against a deceased individual’s whole estate up to the value of a qualifying residential property interest (QRI) passing to qualifying beneficiaries. The RNRB is only available where a QRI is ‘closely inherited’ on the deceased’s death, meaning that it passes to defined lineal descendants. The availability of the RNRB will depend on the precise wording in the Will as this will affect the calculation of the amount passing into the nil rate band discretionary trust (NRBDT), including whether or not there is a transferable nil rate band (NRB) being claimed which might increase the amount passing into the NRBDT. It will also depend

The conditions for the residence nil rate band (RNRB) to apply are set out in Practice Note: IHT—residence nil rate band. It is assumed that downsizing does not apply in this scenario. It is further assumed that the estate does not exceed £2m, where tapering of the allowance would apply. The legislation refers to and defines a qualifying residential interest (QRI): Section 8E(1)(a) of the Inheritance Tax Act 1984 (IHTA 1984) requires that ‘the person's estate immediately before the person's death includes a qualifying residential interest’. IHTA 1984, s 8H(2)(A) provides that ‘“residential property interest”, in relation to a person, means an interest in a dwelling-house which has been the person’s residence at a time when the person's estate included

The residence nil rate band (RNRB) is an addition to the basic nil rate band, which further reduces the inheritance tax payable on death. It is restricted to: • the value of a residential property interest • the estate on death, and • the inheritance of lineal descendants It is available up to the value of a residential interest passing to qualifying beneficiaries and it is not necessary for the residence itself to be specifically bequeathed to those beneficiaries. For more information, see Practice Note: IHT—residence nil rate band. The availability of RNRB in a situation where

This Q&A considers the potential residence nil rate band available in a situation where a surviving spouse dies after the exchange of contracts but before the completion of the sale of a residential property. A lasting power of attorney (LPA) will automatically be revoked on the death of the donor. See regulation 22 of the Lasting Powers of Attorney, Enduring Powers of Attorney and Public Guardian Regulations 2007, SI 2007/1253. If a seller (or one of them) dies between exchange and completion, the validity of the contract is not affected. The benefit and burden of the contract passes to the personal representatives (PRs) of the deceased who are bound to complete. For further information, see: • Commentary: Death of a contracting party: Halsbury's Laws of England [204] See also Q&As: • Under what circumstances can an executor, prior

In answering this question, we have assumed that: • the deceased individual died on or after 6 April 2017 • the deceased’s residential property which passed as part of their estate to the discretionary trust on their death is a qualifying residential interest (QRI) for the purposes of the residential nil rate band (RNRB), under section 8H of the Inheritance Tax Act 1984 (IHTA 1984), and • the value of the deceased’s estate does not exceed the taper threshold of £2m above which the RNRB is restricted or ceases to be available The RNRB is only available where a QRI is ‘closely inherited’ on the deceased’s death. 'Inherited'

For the purposes of this Q&A, we have assumed that: • the issue of the right of residence aside, the personal representatives (PRs) of T’s estate would be able to claim the residence nil rate band (RNRB) in respect of the property • the estate concerned does not exceed £2m so that the RNRB is not subject to taper, and • the testator has not survived a spouse or civil partner (ie that there is no transferable RNRB available to the testator’s estate). General information about the RNRB can be found in Practice Note: IHT—residence nil rate band. The RNRB is set against the value of a residential property interest passing to qualifying beneficiaries. It is not necessary for the residence itself to be specifically bequeathed to those beneficiaries. The legislation defines a 'qualifying residential interest' (QRI). The main condition is that the deceased must have had an interest

Practice Note: Taxation of trusts for disabled persons—IHT states: 'The legislation which introduced the residence nil rate band (RNRB) requires (among other things) that the property interest in respect of which the relief is claimed must be ‘closely inherited’, as defined in IHTA 1984, s 8K. IHTA 1984, s 8J(4) specifies that a person

We refer you to the following materials which explain the operation of the residence nil rate band (RNRB), including the downsizing provisions: • Practice Note: IHT—residence nil rate band • Practice Note: IHT—residence nil rate band Q&As • HMRC guidance: How downsizing, selling or gifting a home affects the residence nil rate band (in particular, see 'Downsizing and trusts') Where a qualifying residential interest (QRI) was already ‘settled property in which the deceased was beneficially

For information on the residence nil rate band (RNRB), its conditions and taper provisions, see Practice Note: IHT—residence nil rate band. The RNRB is available to be set against the deceased’s whole estate up to the value of a residential property interest passing to qualifying beneficiaries. It is not necessary for the residence itself to be specifically bequeathed to those beneficiaries. The RNRB is only available where a qualifying residential interest (QRI) is ‘closely inherited’ on the deceased’s death. ‘Inherited’ is defined as meaning that the property passes from a person who has died and the property formed part of their estate immediately before they died. ‘Closely inherited’ is defined as inherited by a lineal descendant, that is a child, grandchild and remoter issue, as well as other specified relations. Property left by the deceased

The general effect of an order by the court for restoration to the register is that the company is deemed to have continued in existence as if it had not been dissolved or struck off the register. The court may give directions in order to place the company and all other persons in the position they would have been in (as far as possible) if the company had not been struck off or dissolved. Section 1032 of the Companies Act 2006 (CA 2006)