I have a Trust which was set up with a property in 1993. Trustees have sold and repurchased and settlor lived in both properties at some point. In more recent years she has been in a home and the property let.
Daughter is ultimate beneficiary.
On death, value is taxed in Settlor’s estate for IHT but as pre-GROB can RNRB be claimed? I’m thinking not, even though was her home, as she hadn’t lived in it for many years?
Previous comments on this matter are all impacted by GROB, hence my question.
Lucy Orrow CTA TEP
Lambert Chapman LLP