Commentary

I4.165 Residence nil rate band examples

IHT, trusts and estates

I4.165 Residence nil rate band examples

I4.165 Residence nil rate band examples

Example 1 — downsizing and RNRB transfer

Jack and Jill jointly owned White Gables as their home and they sold it in July 2016 for £800,000. They bought Grey Gables as their new home which cost £400,000.

Jill dies in June 2018 leaving her estate to Steve, who then dies in June 2019 leaving one quarter of his estate to his children, and the remainder to other more distant relatives and friends. On his death Steve still has Grey Gables worth £400,000.

Steve has an RNRB on death of £150,000 plus the full brought forward

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