• March 29, 2024
 Petition to change no children no allowance rule

Petition to change no children no allowance rule

In the summer of last year, Jade Gani, Head of Wills and Probate at Aston Bond Solicitors launched a petition to Make nieces and nephews “closely inherited” for RNRB purposes, by adding an additional clause to Inheritance Tax Act 1984 Part 1 section 8K which allows for a person’s nieces or nephews (by blood or marriage) to be counted as closely inherited for the purposes of the Residence Nil Rate Band Allowance.

In an article she penned for Today’s Wills and Probate she outlined the reasons for the petition.

However, to summarise she wrote:

“Nearly all of the Clients that we see who do not have children of their own, tell us that they want to leave their Estate to their nieces and nephews because they “consider them to be like children” of their own. If the government’s true intention is to ensure the passing of assets down generations, then surely there is no reason why they can’t change the legislation to include nieces and nephews (by blood or marriage) too.

“That is why we are petitioning the government to make a change to the legislation accordingly.”

Karen Babington, Director at the Practical Vision Network, who run the Today’s Wills and Probate application, said:

“As a [self proclaimed] favourite aunty I feel strongly about passing my assets down to my nieces and nephews on the same terms parents can leave their assets to their children. Please sign the petition and share with friends, family and colleagues.”

The deadline is approaching for the petition to expire, so here at Today’s Wills and Probate, we wanted to give it one last push to see if we can help to make a change to help those both now and in the future.

It takes two minutes to sign the petition, so add your voice to the campaign here.

Jennifer van Deursen

1 Comment

  • I have a dog which I treat (and acts) like a child, so should they be included too? Seriously though, with any rules there will be winners and losers, and you cant please everyone………………. what about cat owners?

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