IHT Relief check

[tortoise99]

I am dealing with my late mother's estate (died 2025) and wanted to check on reliefs available and Forms required.
Net Estate value for IHT purposes will be circa £740k - there are no complicating matters such as trusts/foreign investments etc
Father died in 1996. Nil threshold then of £200k but £70k used with bequest to children, rest left to Mother
My understanding of reliefs available now:
Own Nil band £325k
Brought forward Nil band from father £130k
RNRB £175k (Property value £430k)
RNRB from father £175k
TOTAL RELIEF £805k
Am checking as I am not certain of ability to get trfr of RNRB as father death in 1996 predates its introduction, also whether the amount is limited given £70k deduction from the Nil band

On basis the above is correct, Forms to be submitted IHT 400, IHT 435 & 436

Would welcome confirmation or otherwise on above and any pointers on things I've overlooked
Thanks in advance

[sederunt]

If the NRB was £200k at the time and £70k was used, then 65% was unused.

TNRB available is not £130k, it is £211,250.

[Pezza54]

Hi
Welcome to LB

Provided your father died in 1996 after 6 April, you are right, the NRB was £200k
Your father used up £70k of this band when passing this sum to his children and not his wife
The percentage of the NRB used was 70k / 200k = 35% leaving 65% unused
The transferable NRB is therefore £325k x 65% = £211,250

Provided your parents owned a property and your mother left it to her children, then the RNRB plus the TRNRB is £175k x 2 = £350k

The total NRB is £325k + £211,250 + £350k = £886,250

You are missing several IHT forms. You should work through the list of forms on page 5 of IHT 400

[tortoise99]

[QUOTE=Pezza54

Thanks for the explanation. I haven't seen the calculation using the percentages during my checking out, but good news. Also note there will be other forms to be completed but don't think there will be anything untoward as matters are relatively straightforward. If they're not, I'll return to the forum! Prompt help is much appreciated.