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