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Settling the 08/09 income tax the late Mr Dog
John_Pierpoint
Posts: 8,401 Forumite
The Mr Dog saga started here last September.
http://forums.moneysavingexpert.com/showthread.html?t=1164505
Well I paid the inheritance Tax (IHT) directly into the tax man's account on 31st March and sent off the legal papers for grant of probate first class.
The probate court was pretty quick at cashing my 100GBP cheque BUT I am still waiting for my interview appointment.
How long should it take to send me an appointment?
Meanwhile my thoughts and my mail box are filling with details about the 08/09 Income Tax year.
If I ran a financial institution I would shut the dead person's account as at the date of death and reopen it as a different acount in the name of "The personal representatives of Mr Dog dec'd". HOWEVER that is not the way they do it.
I am now receiving certificates for the whole year showing gross, tax and net interest figures.
How do I split these down so I can report them on a return for the 6 months of Mr Dog and on the tax return for the 6 months of de facto will trust ?. I am keen to make income payments to the several beneficiaries as soon as possible.
http://forums.moneysavingexpert.com/showthread.html?t=1164505
Well I paid the inheritance Tax (IHT) directly into the tax man's account on 31st March and sent off the legal papers for grant of probate first class.
The probate court was pretty quick at cashing my 100GBP cheque BUT I am still waiting for my interview appointment.
How long should it take to send me an appointment?
Meanwhile my thoughts and my mail box are filling with details about the 08/09 Income Tax year.
If I ran a financial institution I would shut the dead person's account as at the date of death and reopen it as a different acount in the name of "The personal representatives of Mr Dog dec'd". HOWEVER that is not the way they do it.
I am now receiving certificates for the whole year showing gross, tax and net interest figures.
How do I split these down so I can report them on a return for the 6 months of Mr Dog and on the tax return for the 6 months of de facto will trust ?. I am keen to make income payments to the several beneficiaries as soon as possible.
0
Comments
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The Probate interview is normally pretty quick - maybe worth ringing them?
You split the interest payments down according to when the interest was actually paid.0 -
You split the interest payments down according to when the interest was actually paid.
I have a nasty feeling that Mr Dog's beneficiaries will be getting 40% and Alistair Darling will be getting 60% on some of this income.
I am required to report accrued (but not yet paid) income on the IHT400 form for those edging out of the zero rate Inheritance Tax band. (The joys of owning an over priced mortgage free house). This means that the interest for the first half of the year will pay 40% IHT
Now it has to pay another 20% income tax.
I'll have to check the tax status of the beneficiaries and perhaps point them in the right direction - one is very old and one has long term unemployment problems.0 -
The Probate interview is normally pretty quick - maybe worth ringing them?
You split the interest payments down according to when the interest was actually paid.
Tried ringing: permanently engaged.
Appointment notification, dated 20/4 BUT franked 21/4, arrived by "First Class post" today 22/4.
The appointment date is 1st May exactly one calendar month since the office received my application. So much for the 10 day service.:mad:
The appointment letter has also been stamped "I also enclose form D18. Please now send this together with the IHT200 forms to HM Revenue and Customs for processing". The enclosed is the IHT421 I sent with my application for the probate interview and I assume they mean IHT400 not IHT200
So much for joined up government:rolleyes:
The letter includes this semi literate final paragraph:
"If this is not the office you requested to be interviewed, or have any queries please contact me at the above number"
It is signed with a squiggle and the "above number" is the permanently engaged one.
I wonder how they do these things in Switzerland?0
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