Implemented
in April 2017 to reduce the burden of IHT due on the sale of a family home, thereby
making it easier to pass the property on to direct descendants without a tax charge, the residence nil-rate band
(RNRB) allowance has been in place for over 12-months.
During
this bite-size
private client webinar, viewers will be encouraged to reflect upon their use of
the main residence allowance during
this period. Consideration
will be given to the following topics:
How the RNRB
fits in with the Nil Rate Band and other types of IHT reliefs and exemptions inc.
Business Property Relief, Agricultural Property Relief, Charity Exemptions, Spouse/Registered
Civil Partner Exemption
The essential
criteria to be aware of when using the RNRB e.g. it is only available
when estates are inherited by direct descendants and it can only be claimed if the
property in question was the client’s main residence at some point
The forms which
must be used when applying for RNRB and how to fill these in correctly
This is a practical session and viewers will receive invaluable hints and tips on how to use the RNRB more effectively.