Stand-out Q – RNRB


THU, 06 APR 2017

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Will my client’s buy-to-let property qualify for the new Residence Nil Rate Band (RNRB) after they die?

To qualify for the RNRB the deceased must have an interest in a property which was their residence at some point in time. So as long as it had been their residence at some time in the past it will qualify for RNRB but buy-to-let properties which have never been lived in by the deceased will not qualify.

Where an individual owns more than one residential property on their death, their personal representatives can elect which property qualifies for RNRB. It will only be possible to make the election where the property has been the deceased’s residence at some point.

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