Failed PET and tnrb

V2001

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?

Keep_pedalling

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

A quick Google will reveal that the rnrb can't be claimed against a failed pet.

Keep_pedalling

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

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

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