During the parliamentary debates on the Finance (No.2) Act 2015 it became apparent that the RNRB might have the effect of encouraging older people to remain living too long in an inappropriate property in order to preserve entitlement to the maximum RNRB. As a result, the so-called ‘downsizing’ provisions were introduced. These provisions are complex. The purpose of this webinar is to consider their application in the context of the administration of an estate.
Participants will be able to:
- Administer an estate with correct reference to the application of the downsizing addition
- The basic rules for the downsizing addition
- The calculation
- Downsizing to a smaller property
- Downsizing out of the market altogether
- Downsizing where there is a transferable RNRB
- Downsizing where an interest in possession shares ownership of the qualifying former residential property
This podcast is sponsored by Estate Research. Probate Genealogists and ‘heir hunters’ serving the Public Sector and Private Client Legal Sector.