��Ƶ

Home / Simons-Taxes /IHT, trusts and estates /Part I4 Transfers on death /Division I4.1A Calculation of IHT on death /Calculating the IHT on death / I4.165 Residence nil rate band examples

I4.165 Residence nil rate band examples

IHT, trusts and estates

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 Jack, 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 Jack still has Grey Gables worth £400,000.

Jack has an RNRB on death

View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial

TAKE A FREE TRIAL

D6.503 International movement of capital—reportable transactions and events

I4.265 Lifetime transfers reported late

I7.333A Companies and replacement APR property

I7.323 APR and successions

I4.142A Liabilities which are not discharged out of the estate

C2.1020 Employment-related securities options and capital gains

I9.325 Foreign pensions free from IHT

E6.303A Domicile of origin

D7.1140 Methods of leaving the REIT regime

E8.810 Application for a National Insurance number

C1.106A Annual exempt amount

E8.811 National Insurance number—refusal of application

D2.250 Group relief—limited rights, variable rights and options attaching to ordinary shares

B2.315 The concept of wholly and exclusively

D6.618 Capital treatment on a purchase of own shares—HMRC advance clearance and reporting obligations

E4.1318 Special mixed fund rules

D1.404B Large company definition for R&D tax relief

C3.1713 PPR relief where a dependent relative occupied the residence prior to 6 April 1988

E7.234 Other types of lifetime benefit lump sum

C2.106 Deferred and contingent consideration on disposals