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IHT35 - Do you get a letters back? Overpayment?
Hello, I sent off a IHT35 because we sold the shares at a loss. Now after a couple of months HMRC has refunded us. The problem is that they have refunded us a lot more than they should have done (14x more). The money they have given us back is about 80% of the inheritance tax we paid! The Inheritance tax we paid was paid…
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Overseas Assets
Hi all, Parents who are now in their 80's retired to Spain approx 15 years ago. Theyre now at point where they need full time help and have agreed that if I can find a decent care home that will accept them both, they'll come back home to Blighty. Whilst they have enough to cover the Care homes fees with their UK savings…
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Options for single people re inheretence tax
How can a single person who never married.or had kids minimise inheritence tax. Only have cousins and their off spring for beneficiaries.Live in London with house worth 600k plus.
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Passing property to my children
Hopefully this question is in the correct forum section. I am recently widowed and have 2 properties. At the moment my deceased wife, my son and myself are on both sets of deeds. I intend to 1) remove my deceased wife off both the deeds, 2) remove my son off one set of deeds and add my daughter. I will end up with me and…
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Inheritance tax and property
Both of my parents went into a self-funding care home in January 2023. In order for them to become permanent residents, we had to provide proof of 3yrs fees. This meant selling their home, as a valuation of the property was not sufficient evidence. Mother died in June 2023, so Dad inherited her share of the property (at…
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Equity Release - do I need to specify it when doing Online Probate
Hi can anyone help me.I'm helping a friend with online probate having done it myself with help from this forum. The estate is very simple and there is a will. In my case the Gross and Net amounts were the same, there were no debts and the funeral was pre-paid. In my friends case the total value of the estate is under…
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Tax on Interest Received Post Probate
Just finishing tidying up my late Mother's estate and I need to declare to HMRC any interest received after probate. I know estates get no tax allowances but there are a couple of grey areas I'm not clear on such as:- 1. Are Premium Bond winnings recieved post death subject to tax?2. Is tax due post death on gains received…
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Death certificate
We are after my wife’s brothers death certificate from 2019 we’ve paid twice on national register they can’t find it they told us to ring the local office in the city where the death occurred we rang them they said they have found the phone call from the brothers wife reporting the death but there is no record of the death…
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Clarification on IHT forms
Hello, apologies if there is a first one, pressed the wrong key. There are two points following my mum's passing with reference to her estate. 1. There will be no inheritance tax to pay, when I take account of the allowance available for the Residence Nil Rate Band, mum's property passing to myself as the direct…
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Will for my parents - help and advice
Hi there, It would be great to ask for some advice please. After numerous years of trying to bring up the subject of my parents doing a will, I’m struggling to get any sort of traction. My parents are 70 and 69, my dad still works full time and mum works part time. Both have had health issues in the past, my dad more…
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HMRC registration of non-taxable express trust (will trust)
On 6 February 2024 it is 2 years since my Mum died and left her 50% share of the house to my Brother and I in trust. My Dad owns the other 50% plus beneficial interest in Mum's 50% and is still alive, although moved into residential care 4 months ago. The HMRC TRS says: Registration Deadlines Non-taxable trusts Registrable…
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How long after...
An accountant and a solicitor are dealing with probate for us, how long after the inheritance tax is paid is probate granted? How long before money is released to beneficiaries?
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Tax on a gift
In 2010 my Uncle gifted me £75,000 to enable me to complete the purchase of a property. He died in 2017 just two months before the 7-year gift rule expired. My solicitor said I would have to pay tax on the whole amount and I paid 40% to the tax man. I have since learned of the taper rule. Does anyone know if the amount of…
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Solicitor as executor
Hi Myself and sibling are the only beneficiaries of a relative who passed away in May. There was a valid will stating this and the will named a local solicitors as Executor. The solicitors are slowly working through the probate process and not great at keeping us informed of progress.The estate consists of a small property…
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Inheritance tax and the Spring Budget
I am one of two executors and one of the beneficiaries of the estate of a friend who died in November. There is inheritance tax to be paid. There is talk of changes to inheritance tax in the Spring Budget. My understanding is that we have 6 months to pay inheritance tax before we start paying interest. Is there a…
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Gifting a sum from inheritance
After some advice please, my partner is soon to inherit from her late mums estate, it was split equally between her and 2 siblings. there was an unofficial agreement between the 3 siblings to gift £18,000 to a close ex family member (wife of a 4th sibling who sadly passed a few years ago). Can that £18,000 be transferred…
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Inheritance tax advice
Hi I wanted to get some advice on inheritance tax please. My employer has offered to pay to see a financial advisor (I’m meeting at end of the month) and I’ve done some research on my own circumstances. But still quite confused! I want to leave below to my partner/son without having to pay too much inheritance tax. Always…
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Probate Delays and Complaints
Hi - I've been waiting for a year now for probate to granted on my late father's estate which he left intestate. I know this will take longer than probate where a will is made and there are delays in most applications this year but this seems to be very unusual and perplexing to me. My solicitor is saying that the only…
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Creating a Power of Attorney for myself and my wife without a solicitor-please read
Hi All, I hope I have posted in correct section! Have not posted for quite a while but, have been watching Martins shows before Xmas and always listen to Martin on his Radio 5Live spot. Have been toying with getting this done for about 3 years, but now need to sort!. My parents did their POAs last year and I was involved…
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Statutory Demand
Our father died September 2017. He engaged a Will writing company to be his executor and we had an initial meeting with her and exchanged a few emails which gradually dwindled to nothing. We didn’t receive our inheritance. Fast forward to this year and she has sent less than a third of it in November with the promise to…