This page calculates the Total of all Nil Rate Band Allowances that are available to the Estate. There are three possible Allowances:
Residential Nil Rate Allowance:
Click the HMRC Calculator link to go to HMRC's RNRB Calculator and work through the pages to get a figure for the RNRB and TRNRB available to the Estate.
Nil Rate Allowance:
The Platform will calculate the amount of NRB available to the Estate once you enter the Deceased's date of death in the Case & Deceased details page.
Transferable Nil Rate Allowance:
To enable the Platform to calculate the available Transferable Nil Rate Band Allowance you need to complete this section. The information you enter here will be inserted into form IHT402. The Numbers next to the field titles are the box numbers on form IHT402. It is s good idea to have the form and it's notes in front of you when completing the boxes on this page.
N.B. When it comes to the total value of the first to die's chargeable estate, we just provide space for one figure to be entered into the Platform (as that's all it needs to calculate the TNRB). So please put the figure for "17 - Total of Spouse or CP's Chargeable Estate" into the box on the Allowances page. When you create form IHT402, you will need to complete boxes 13 to 16 of the Form with the appropriate details and figures whose total makes the figure in Box 17 of the Form IHT402 match the figure in the Allowances page for "17 - Total of Spouse or CP's Chargeable Estate" .
Remember to click the Save button if you change any figures, so the Platform recalculates correctly.