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Transferring and Tapering the Residential Nil Rate Band

RNRB

Transferable RNRB Any unused Residential Nil Rate Band (RNRB) is available to be transferred to a surviving spouse as long as second death occurs on or after 6th April 2017. On second death, the surviving spouse’s Personal Representatives (PRs) are able to claim both the deceased’s RNRB and the unused RNRB of their late spouse, … Read moreTransferring and Tapering the Residential Nil Rate Band

Residential Nil Rate Band – Qualifying Residential Interest

Residential Nil Rate Band – Qualifying Residential Interest The rules for the Residential Nil Rate Band (RNRB) introduce a variety of new terms that need defining. The first of these is a Qualifying Residential Interest. The new S8H Inheritance Tax Act 1984 defines a Qualifying Residential Interest (QRI) as an interest in a dwelling which … Read moreResidential Nil Rate Band – Qualifying Residential Interest