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Additional context of the lifetime transfer to partner

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Additional context of the lifetime transfer to partner

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.
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  • November 30, 2020 at 1:20 pm #597148
    CraigLivesey
    Member
    • Topics: 6
    • Replies: 3
    • ☆

    Although I am sure this isn’t part of the syllabus, or at least I don’t think it is, when discussing the lifetime transfer of the nil rate band to spouse/civil partner upon death – I was wondering if this is lost if the widow/widower remarries?

    Further to this, if the newly married partner then also dies, would the previous widow/widower retain the new partners nil rate band if he/she hadn’t made use of it? My thinking here is does the lifetime transfer accrue to the widower/widow indefinitely depending on how many partners of theirs die.

    For example, if a woman married 4 times in her life but all partners unfortunately died, would the nil rate band (assuming unused) be transferred to the woman from all her partners for her to offset on her death.

    Very morbid question I know but is useful for how my brain works in remembering this stuff lol.

    December 1, 2020 at 9:38 am #597256
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Firstly I do think that your “serial” widow example is indeed not a particularly likely exam issue – but – a surviving spouse could only accumulate up to a maximum of 100% unused nil rate band however many tragic losses she / he may have endured!

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