IHT435 RNRB advice please

tinateaspoon

Can anyone help me please?  I am struggling to find some clarity to question 21 "value of other assets to direct descendants" IHT435 claim for resident nil rate.  Do these "other assets" include everything I inherit from my late mother, ie savings, shares, etc or does this question just refer to other building property only?  I'm confused, and can't face another 50min + on hold to HMRC!  thanks

Keep_pedalling

If you are answering that question then you are claiming the downsizing allowance, which can only be claimed if there are other assets you can claim against ( see note 17). You include all the other assets (cash, shares etc) in that box

tinateaspoon

Keep_pedalling said:

If you are answering that question then you are claiming the downsizing allowance, which can only be claimed if there are other assets you can claim against ( see note 17). You include all the other assets (cash, shares etc) in that box

Ah, now I think I understand, but do I deduct any legacies due to other beneficies from the total amount first?

Keep_pedalling

tinateaspoon said:

Keep_pedalling said:

If you are answering that question then you are claiming the downsizing allowance, which can only be claimed if there are other assets you can claim against ( see note 17). You include all the other assets (cash, shares etc) in that box

Ah, now I think I understand, but do I deduct any legacies due to other beneficies from the total amount first?

Yes, it is just the assets that the direct descendants inherit. 

tinateaspoon

Keep_pedalling said:

tinateaspoon said:

Keep_pedalling said:

If you are answering that question then you are claiming the downsizing allowance, which can only be claimed if there are other assets you can claim against ( see note 17). You include all the other assets (cash, shares etc) in that box

Ah, now I think I understand, but do I deduct any legacies due to other beneficies from the total amount first?

Yes, it is just the assets that the direct descendants inherit. 

Super, thank you so much