Section 8F — Inheritance Tax Act 1984: Residence nil-rate amount: no interest in home goes to descendants etc

Residence nil-rate amount: no interest in home goes to descendants etc 8F 1 Subsections (2) and (3) apply if the person's estate immediately before the person's death—

a does not include a qualifying residential interest, or b includes a qualifying residential interest but none of the interest is closely inherited.

2 The person's residence nil-rate amount is nil.

3 An amount—

a equal to the person's default allowance, or b if E is greater than TT, equal to the person's adjusted allowance, is available for carry-forward.

4 See also— section 8FD (which applies instead of this section where there is entitlement to a downsizing addition), section 8H (meaning of “qualifying residential interest” , “qualifying former residential interest” and “residential property interest” ), section 8J (meaning of “inherit”), section 8K (meaning of “closely inherited”), and section 8M (cases involving conditional exemption).