Course content 

This session will provide a refresher on 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 taper relief work?
• What is downsizing?
• How the downsizing allowance is calculated
• What happens if a person moves more than once?
• How do you value the qualifying residential interest at death?

Objectives

After completing the session delegates will be able to advise on 

• whether or not the there is a residential enhancement or downsizing allowance available, and 
• calculate the value

About the speaker

Professor Lesley King, is a former member of the Probate & Estates Committee of STEP, a former member of the Law Society’s Wills & Equity Committee and an honorary member of the Association of Contentious Trust and Probate Specialists. She is Professional Development Consultant at the University of Law.

She is co-author of Wills, Taxation and Administration: A Practical Guide; A Modern Approach to Wills, Administration and Estate Planning (with Precedents);  A Modern Approach to Lifetime Tax Planning for Private Clients (with Precedents); A Practitioner’s Guide to Wills; Varying the Disposition of an Estate after Death; Wills: A Practical Guide; and editor of The Probate Practitioner’s Handbook. 

She is a contributor to the Wills and Trusts volumes of Halsbury’s Laws and the Encyclopaedia of Forms and Precedents and to The Law and Ethics of Dementia. 

She is the wills and probate columnist for the Law Society Gazette, and writes and lectures extensively on wills, taxation and related matters.