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residence nil rate band kaplan kit#202 q 2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › residence nil rate band kaplan kit#202 q 2

  • This topic has 2 replies, 2 voices, and was last updated 1 year ago by nadiranks.
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  • August 31, 2021 at 2:43 pm #633653
    nadiranks
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    • Topics: 25
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    A question in Kaplan practice kit question 202 #2 asked what was the available nil rate bad for Lulu’s husband. She died first and her estate did not include a main residence, however in the answer upon her husbands death included a nil rate band for her of 175000 together with his 175000 to include in the calculation of his estate upon his death. His estate included a main residence.

    Thanks

    September 1, 2021 at 9:24 am #633775
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    You need to look back at your study notes – Lulu did not use any residence nil rate band and therefore the full unused nil rate band transfers to the husband. It is irrelevant that Lulu did not have a main residence – the point is that she had used no residence nil rate band as a result of this and therefore it becomes available on the husband’s death

    September 2, 2021 at 2:21 pm #633986
    nadiranks
    Member
    • Topics: 25
    • Replies: 59
    • ☆☆

    ok thank you I totally missed that. I thought she needed to have a main residence in order for her husband to be entitled to have use of it.

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