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IHT on a remarriage
My mum has passed away, my dad has remarried. My Dad's Estate is worth say £600k. 15% of which goes to new Wife on his death. 85% to his children. Is it correct that my dad still has his first wife's (my mum) IHT unused allowances and as my dad is leaving his property to his children, he will have the £1m exemption? What…
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Group Life Assurance Payment Delays & Interest
Hello All, I'm currently waiting to receive a payment from my late wife's employer's group life assurance scheme. It has been approved, and I'm just waiting to receive the money in my account. However, my wife passed away in February, and only now have they (the insurer) finished their "investigations" and agreed to pay.…
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Gifting from Income - Timescales
I am trying to understand the timescales when allocating gifts from income. I appreciate it can be a bit of a grey area, but I have read that you have a two year carry forward period before excess income is classed as capital by HMRC. Does that mean that excess income for this tax year 2025-2026 can be given away this tax…
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C1 Confirmation Form Help - Please
I’m looking for some help. My father recently passed and had a will. In the will he named my mum (pre-deceased), me and my sister as executors. My sister lives abroad and had not taken anything to do with any of this. I do not know how to fill out her address (unknown) and what to say in box 2 and 3. Box 2 (currently)…
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Links to Guides for Wills Trusts and LPOA
Hi I've read through lots of posts on here plus the general guides on mse. Are there any other accessible free guides available I can look at for Wills Trusts and LPOA I'm particularly interested in Trusts and Tax But also any guides on the various issues relating to LPOA Is it fairly standard practice to make the LPOA…
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House transfer, Solicitor required?
Are there any experts or anyone whos gone through this? Forgive my ignorance. We have a property that has been left to siblings. One sibling is buying out the others, price and value is agreed. In terms of Dealing with Land Registry and the paying out of siblings, is a Solicitor required or advised? Or do people do this…
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Offer of "gifts from income" from Mother - concerns
My mother is over 80 and its been suggested to her that now her pension pot is subject to inheritance tax, a way to avoid it is to give "gifts from income" meaning they wouldn't be part of the estate for inheritance tax (7 year rule?) Proviso that should she need paid-for care that we use that money to pay for it…
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IHT - HMRC calculations
Hi everyone, The final amount I am waiting from is the HMRC calculation of what is owed. I have an amount that was being paid back that is owed Tax on interest earned from Bank accounts that is owed An adjustment from tax paid on private pensions which may result in a credit. Can I overestimate the amount owed to HMRC for…
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More IHT 403
Sorry to add another question about form IHT 403, however a simple question really. On page 8 under Ref.20 (Income) what does "Annuities (income element)" mean by "income element" ? I have recently used my SIPP to buy an annuity which in my mind is income (taxed of course) so have included it in this box. Is this correct?
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Capital gains
Mum died 2018, she had about £300 worth at the time of shares with Lloyds . My sister lost the shares certificates and it cost more than they where worth to change names etc we inherited all her estate and were executors. We still receive dividends in our names as executor of my mum. Very small amounts , are they classed…
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IHT400 & HMRC Response Times
I'm having a big issue with the IHT process. I posted the forms first week of August via Tracked Delivery, it did not show delivered and a few weeks later HMRC still said they had not received it. So, I sent it again via Special Delivery as they suggested to do so - and have the same problem again. It's not shown as…
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Unusual Probate Scenario & Estate Advice
I write with the hope that someone out there might be able to help nudging me in the right direction. A few weeks ago, I had a Policeman knock on the door to notify me that my Uncle had been found dead in a hotel in France. I was very surprised as it was completely unexpected. I was more surprised as both my father and his…
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Probate question
Hi, newbie forum member here. My Dad passed away earlier this year. He left a will which left everything to my Mother. Most things were in joint names, they were joint tenants of the house. So everything was transferred without probate being asked for until I come to sort out his premium bonds where I have been asked for…
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C1 Confirmation please help a newbie
I have been trying to complete C1 confirmation on behalf of my late Mum, I have been assigned as the Executor after my Step Dad resigned as he is blind, grieving and elderly. I have already had one refusal from the courts and am desperate to get it correct before I resubmit. The first was sent by post but I am considering…
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unborn great grandchild
My mil recently passed and her will states to "pay the sum of ten thousand pounds to each of my grandchildren as shall be then living and attain the age of 21 years". Since the will was issued 1 great grandchild has been born and 1 is to be born in march. Are the great grandchildren benificiaries or do they need to be…
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Probate - solicitor named as Executor on Will.
Good Afternoon. I started selling my mother’s flat in January this after she had been seriously unwell in hospital for a few months and it transpired she wouldn’t be well enough to return home again. The condition she had was very serious with no treatment. She had to go into a nursing home before Christmas since ended up…
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Wills and Solicitors
Should we have a Solicitor as an Executive of our Wills?
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Capital gains tax
We instructed co-op to manage the probate for our late parents. In the contract it said they would deal with all the tax including cgt. There was a property that was sold and they did not inform hmrc it is now over 60 days and they are saying that they can’t deal with the cgt as the house was left as a specific gift in the…
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How to show large numbers of regular gifts from income on IHT403?
Mum died in July and even though the inheritance tax calculator says there's no IHT to pay thanks to the transfer of dad's NRB and RNRB, I'm having to do IHT400 as her estate is over the 625k limit. (Initially applied for probate online without IHT400 based on guidance on .gov, but received a barely intelligible email from…
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Issues with online probate application
Finally, after weeks of waiting, a co-executor that I have named in an online probate application has now been contacted by HMCTS a day or so ago. However he was asked to make an application for probate himself, which he has done, but this now means we have both made an application for the same thing, whereas I thought he…
