Using the Residence Nil Rate Band – One Year On

Reflecting on the use of the RNRB following it's introduction in 2017

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Course Overview

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.

What are the requirements?

  • Watch the recorded webinar, review the supporting documentation and complete the short quiz to test your legal knowledge.
  • This course provides 0.5 CPD points

Learning Outcomes

  • On completion of this course you will:
  • • Be familiar with the circumstances in which the RNRB can be claimed including what the allowance is and how this may increase in the future
  • • How the RNRB is affected by other inheritance tax exemptions and reliefs, particularly the unused nil rate band
  • • Feel confident when advising the client regarding the RNRB and how this can be transferred between spouses

What is the target audience?

  • This course is suitable for private client practitioners of all levels

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About Instructor - Safda Mahmood

Safda is a senior solicitor, with a public authority, having had practiced in both Private Practice and Local Government. Safda is on the Law Society Children Panel and specialises in Children Law and Adoption. He delivers training across the country and writes regularly for various journals including Family Law Journal, Legal Executives Journal and Law Society Bulletin.

Course Curriculum

Recorded Webinars

  • Webinar
    00:20:46

Supporting Documentation

  • Notes
    1 Page
  • Slides
    5 Page

Quiz

  • Quiz
     

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