IHTM43000 - Transferable nil-rate band: - contents
Basic principles
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introduction |
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focus is on the extent to which the nil rate band is unused |
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what constitutes a valid marriage? |
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what equivalent arrangements to civil partnerships are recognised in the UK? |
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divorce or dissolution of a civil partnership |
Claims and time limits
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how to make a claim |
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time limits |
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claims by people other than the personal representatives |
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late claims |
Dealing with a claim
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reviewing form IHT402 and form IHT216 |
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action in Risk Assessment: first death before 9t h October 2007 |
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action in risk assessment; first death on or after 9t h October 2007 |
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action in PC&S |
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action in Compliance Group |
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Calculating the transferable nil rate band
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how the amount to be transferred is calculated |
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how the amount to be transferred is calculated where there is a lifetime transfer |
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how the amount to be transferred is calculated where the first estate is less than the IHT nil rate band on the first death |
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how the amount to be transferred is calculated where the first estate is less than the IHT nil rate band on the first death and with a lifetime transfer |
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how there may still be an amount to be transferred even though IHT is paid as a result of the death |
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interaction of ability to transfer unused nil rate band with double taxation agreements, double taxation relief and successive charges relief |
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how to reflect the increased nil rate band on COMPASS |
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survivor has been married to more than one spouse or been in more than one civil partnership |
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survivor has been married to more than one spouse or been in more than one civil partnership; limitation at 100% |
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survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death |
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survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death; limitation at 100% |
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chargeable lifetime transfers by the second spouse or civil partner |
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survivor was married to or in civil partnership with someone who was entitled to TNRB from an earlier death, where no claim was made on the earlier death |
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simultaneous deaths |
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legitim |
Domicile
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domicile of first spouse or civil partner to die |
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calculation where the domicile of the survivor at the first death is outside the UK |
Interaction with conditional exemption and woodlands relief
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conditionally exempt property or woodlands in the estate of the first spouse or civil partner to die |
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recapture charge arising before the death of the survivor |
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recapture charge arising after the death of the survivor |
Interaction with alternatively secured pensions
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deceased’s estate includes funds in an alternatively secured pension |
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calculations where the deceased’s estate includes funds in an alternatively secured pension |
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restriction of nil rate band on recapture charge |
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calculation of recapture charge on scheme member’s death and TNRB where spouse’s death triggers the recapture charge |
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calculation of recapture charge on scheme member’s death where spouse dies and TNRB has been claimed before the recapture charge is triggered |
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calculation of recapture charge on scheme member’s death and TNRB where spouse dies after the recapture charge |
Other issues
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application when the first death occurred under Estate Duty and Capital Transfer Tax |
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penalties for incorrect claim for transferable nil rate band |
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settling the amount of unused TNRB at the first death |
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requests to revise values included on the first death |
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excepted estates and transferable nil rate band |
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the rate of tax on exit charges from relevant property trusts which include TNRB before the first ten year anniversary |
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valuing the first estate, ascertained valued for CGT |
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effect of clearance certificates or clearance letters |
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disclosure of TNRB calculations to other liable persons |
