We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Failed PET and tnrb

V2001
V2001 Posts: 248 Forumite
Fifth Anniversary 100 Posts Name Dropper
in Deaths, funerals & probate
Just a general question on a failed pet can thr TNRB still be claimed.  I understand the RNRB can't be. But is this the case for tnrb?

Comments

  • Keep_pedalling
    Keep_pedalling Posts: 22,421 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Your question is too vague to give a definitive answer, but a  failed PET will use up at least some of the NRB but as long as the gift was below £325k the remainder will be transferrable. 

    No sure why you think it would stop the RNRB being used though.
  • V2001
    V2001 Posts: 248 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    A quick Google will reveal that the rnrb can't be claimed against a failed pet.
  • Keep_pedalling
    Keep_pedalling Posts: 22,421 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    V2001 said:
    A quick Google will reveal that the rnrb can't be claimed against a failed pet.
    True, but that does not stop it being claimed against another part of the estate assuming this person owned a home or the downsizing rule applies.
  • V2001
    V2001 Posts: 248 Forumite
    Fifth Anniversary 100 Posts Name Dropper
    Keep_pedalling said:
    V2001 said:
    A quick Google will reveal that the rnrb can't be claimed against a failed pet.
    True, but that does not stop it being claimed against another part of the estate assuming this person owned a home or the downsizing rule applies.
    What if the failed pet was a home that the deceased own? I take it that's a no no
  • Keep_pedalling
    Keep_pedalling Posts: 22,421 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Giving your own home away would be a very foolish thing to do, but if you did and continued to live in it it would be a gift with reservation of benefit so would not be a PET as the 7 year rule does not apply 
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.5K Banking & Borrowing
  • 254.2K Reduce Debt & Boost Income
  • 455.1K Spending & Discounts
  • 246.6K Work, Benefits & Business
  • 603K Mortgages, Homes & Bills
  • 178.1K Life & Family
  • 260.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture