R85 help please! executors estate

pob128

Hi,
Recently my grandma passed away and I am the executor of her estate.
Probate has just been granted last week and I have frozen all her accounts she had with Barclays.
Her estate consists on money only. Around £130,000 in various accounts.
Today I receive a form from barclays entitled R85 'getting your interest without tax taken off'
My simple question is, what is this form for? Do I need to fill it in?
I am clueless, and as its the weekend now its too late to phone anyone.
Any help would be gratefully received.

jimmo

Just thinking about it very quickly I can't imagine the R85 applies to you but perhaps the HMRC notes will help.
http://www.hmrc.gov.uk/helpsheets/2007/r85-helpsheet.pdf

Mikeyorks

p!!!28 wrote: »

My simple question is, what is this form for? Do I need to fill it in?

It's what you quote - a form to declare no tax is due on interest payable to the Estate from the date of death. Shouldn't have been issued - and you shouldn't complete it.

If your Grandma had R85(s) filed on her accounts - then interest will be paid gross to the date of death - and that's fine. But interest from the date of death is taxable - so the R85 is inapplicable :-

http://www.hmrc.gov.uk/trusts/tax-when-someone-dies.htm#7