Understanding Inheritance Tax

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  • Keep_pedallingKeep_pedalling Forumite
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    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?
  • iansarahiansarah Forumite
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    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_pedallingKeep_pedalling Forumite
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    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.
  • iansarahiansarah Forumite
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    Thank you you have been a great help.
    Ian
  • SeniorSamSeniorSam Forumite
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    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 
    I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.
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