IHTM43033 - Calculating the transferable nil rate band: survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death; limitation at 100%

Following the example from (IHTM43032), if on Lucy鈥檚 death there had been no chargeable legacies the calculations would be as follows

Unused nil rate band calculation

M = 拢375,000

VT = 拢Nil

M is greater than VT by 拢375,000

Transferable nil rate band calculation

E =拢375,000

NRBMD = 拢300,000 so

(375,000 梅 300,000) 脳 100 = 125.0000%

On David鈥檚 death the nil rate band available on his death would be limited to 100% by IHTA84/S8A(5).聽