Inheritance Tax - property left to sole beneficiary

shortieboss

Hello, my parent has their property up for sale and sold subject to contract.  My parent is also likely to pass away this year from cancer with myself being power of attorney and and main beneficiary.  If sale is still going through process at sad time, will I still be eligible for the £175,000 property inheritance  tax allowance as an addition to the £325,000

JGB1955

The RNRB applies to any property you have ever owned - The person that died must have owned and lived in the property at some time.  See Check if you can get an additional Inheritance Tax threshold - GOV.UK (www.gov.uk).  It doesn't matter that the property has been sold - it still counts.

Infrastructure

As said above, assets that have resulted from sale of a residential home still qualify for the RNRB.