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    • Sillychuckie
    • By Sillychuckie 12th Jul 17, 2:25 PM
    • 1,120Posts
    • 267Thanks
    RNRB with IHT205
    • #1
    • 12th Jul 17, 2:25 PM
    RNRB with IHT205 12th Jul 17 at 2:25 PM

    I'm aware of the 2 potential forms one can use for probate application (IHT205 and IHT400).
    I know the estate will have no tax to pay (which is suggestive of the more simplistic IHT205 form), but only because of the new 'Residence Nil Rate Band' (RNRB) which gives additional allowances on a primary residence provided it is left to the children etc.

    IHT400 has a whole section to deal with this RNRB, and a separate form to provide details.
    IHT205 doesn't seem to mention it, and implies tax is due once you go over the nil-rate-band.

    Can we still use IHT205 or must we use the IHT400 form?
    If IHT205, does one just put in a higher 'excepted state limit'?

    I suspect the answer is that we must use IHT400, EVEN though there will be no tax to pay - but it woudl give me more confidence if someone could confirm?

    The IHT205 guidance notes don't mention RNRB, and the form hasn't been changed since 2011 (well before RNRB was introduced or even devised I imagine).

Page 1
    • Emsierose
    • By Emsierose 13th Jul 17, 9:26 AM
    • 9 Posts
    • 2 Thanks
    • #2
    • 13th Jul 17, 9:26 AM
    • #2
    • 13th Jul 17, 9:26 AM
    Unfortunately in the current format if you do need to claim the RNRB it can only be done through the IHT400 as you are going over the excepted estate limit of the 205. Hopefully in the future they will bring in the correct format in which to claim it with the 205 like you would currently do for the TNRB.
    • getmore4less
    • By getmore4less 13th Jul 17, 3:31 PM
    • 31,611 Posts
    • 18,944 Thanks
    • #3
    • 13th Jul 17, 3:31 PM
    • #3
    • 13th Jul 17, 3:31 PM
    If this is the only thing taking it out of 205 the 400 forms will be relatively simple and won't take much extra effort.
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