Submitted on Thursday 9th March 2017
Published on Monday 20th March 2017
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 19
REMOVE all restrictions from the £100,000 Transferable Main Residence Tax(RNRB)
The RNRB, an addition to the IHT allowance, states this property allowance is only exempt from IHT if the property is bequeathed to a direct descendant of the deceased, or their spouse/civil partner.
For RNRB purposes common law partners or relatives such as nephews,nieces,siblings are exempt.
INSTEAD give the allowance restriction free, to all property owners, enabling them to bequeath as much of their main residence free from IHT as possible.
This would increase the current £325,000 IHT threshold by £100,000. Increasing to £500,000 by 2020.This then can be bequeathed to anybody you choose
See https://www.gov.uk/wills-probate-inheritance/overview. Select IHT go to item 2,
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18.117.232.215 Sat, 23 Nov 2024 10:00:47 +0000
