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Hello,
Could you please help with the following question?
Joel and Sunita were a married couple. Sunita died in July and 65% of her nil rate band of £312,000(2018/09) was unused. Joel died in May 2018. He had made a potentially exempt transfer( after all available exemptions) in August 2014. Joel left his estate to his sister. Any relevant elections were made. What is the nil rate band available to set against Joel’s death estate?
1. The answer is £461,250.
2. As per the revision kit, Sunita’s unused nil rate band is £325000*65%.
– Why 325,000 has been used and not £312,000?Thanks in advance.
Have you read the IHT chapter – section 3.2 – and watched the lectures which covers this issue?
I guess when NRB is transferred it’s alway transfer as % not in amount. this even id snita died in 2008 (when NRB may 100000) her unused NRB in % will be carry forward instead of Amount.
Means if Sunta has used 60000 out of 100000 of her NRB the we will consider 40% as unused and will consider again current NRB i.e. 325000*40%
Hope I am right in this case Tutor
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