RNRB - value of estate to qualify for relief


(justinwallace) #1

H & W have estates worth in excess of £1m each. Included within each estate are some relievable assets. W dies before introduction of the RNRB (but after 2015) leaving relievable assets to son remainder to husband (including her property interest). Her estate is nil for IHT purposes.

H dies after intro of RNRB by which time his estate is worth circa £1.5m.

Do forum members agree that H’s estate benefits from his own NRB, that of his wife and also their combined RNRB?

Justin Wallace
Brewer Harding & Rowe


(Simon James Northcott) #2

yes

Simon Northcott


(justinwallace) #3

Thanks - I have an IFA who is adamant the relief wouldn’t apply I think on the basis the combined estates are in excess of £2.2m but missing the point the claim will be made on death of second spouse when the estate is well under £2m (before APR applied).
Justin Wallace
Brewer Harding & Rowe


(Simon James Northcott) #4

As you say, the £2m limit for RNRB is calculated including APR assets, but it would appear the gross figure is under £2m on each death, so no problem

Simon Northcott