Exploring the RNRB and Downsizing Allowance [2023]

This session will look at how to get the best out of the Residence Nil Rate Band and look at some common misapprehensions.

It will look at how the downsizing allowance works and when it is and isn’t available.

In particular it will look at the following:

• What is a qualifying residential interest?
• How does the taper threshold work?
• Can Equity Release help?
• How do you value the qualifying residential interest at death?
• How to get the allowance when the residence is left in the ‘wrong’ way
• What is downsizing?
• How the downsizing allowance is calculated
• What happens if a person moves more than once?

After completing this training, you will:

• be able to advise on whether or not the there is a residential enhancement or downsizing allowance available,
• Identify situations where the residential enhancement can be obtained by varying the disposition of the estate, and
• calculate the value of the enhancement or allowance