I have a client who’s estate is likely to exceed £2.2 million and my understanding is that the RNRB will therefore not be available.
Hen is a widow and lives in a substantial property which has been subdivided to provide for 20+ leasehold flats retaining the freehold. The Client and his daughter also live in part of the property and effectively manage it as a business.
Apart from lifetime giving are we just left with a potential claim for BPR? Is there any merit in him transferring any assets to his daughter now? If so what are the CGT implications? Would a Family Business arrangement assist?
Any thoughts welcome!