Understanding Inheritance Tax

Keep_pedalling

You will be able to claim his transferable residential NRB, but whether the the main NRB is available will very much be down to how the DT was set up.

Can you provide more any more detail?

iansarah

Thank you for your reply and sorry for not replying sooner.
I am trying to understand how the DT is set up and will ask when I have worked it out.
Could you tell me whether, as her sons we could add the 175k Resident Nil Rate band to the basic inheritance tax threshold of 325k, even if none of us intend to live in her house?
Thank you for your time.
Ian

Keep_pedalling

iansarah said:

Thank you for your reply and sorry for not replying sooner.
I am trying to understand how the DT is set up and will ask when I have worked it out.
Could you tell me whether, as her sons we could add the 175k Resident Nil Rate band to the basic inheritance tax threshold of 325k, even if none of us intend to live in her house?
Thank you for your time.
Ian

The exemption is claimable regardless of what you what you plan do with the house after you have probate.

iansarah

Thank you you have been a great help.
Ian

SeniorSam

iansarah  You need to start a NEW Question. It gets confusing if you jump in on some other question. Just copy this question and paste to a NEW question