A Will contains a single clause, comprising a number of subclauses. In one subclause, it defines the “nil rate sum” (in the usual form) and in another subclause, it defines the “residential share”, representing so much of the deceased’s residence as is equal to the residence nil rate band.
In the final subclause, the deceased gives both the nil rate sum and the residential share to his children. The children would like to keep the nil rate sum, but disclaim the residential share, the reason being to preserve first time buyer relief for SDLT.
I believe this is possible, on the basis that the clause contains two separate gifts, not a single gift of two elements, but should be glad to know if others agree?
I think it’s difficult to read the final clause as giving rise to a single as opposed to two separate gifts (namely, each gift of a different nature as defined in each subclause separately). Perhaps not a requirement but there is no obvious link between the two in terms of gifting (unlike, for example, where a gift of a house plus contents is made and effectively is a single gift).