IHT question

John_Pierpoint

The way it works these days of the IHT400 return, is that the executor has to reach some agreement with HMRC, and pay a substantial amount of the tax owing, before any approach to the probate court can be made.

[In my recent example, I just managed to achieve the self assessed IHT tax payment within the 6 month deadline, however it took another 3 months to get clearance from the tax man and them apply for and get grant of probate. It then took another nearly three months to advertise for (unknown) claimants in the London Gazette and local paper.

So it was a year before I, the executor, and the other half a dozen beneficiaries could receive any payment.

Threads about inheritance and tax appear on here fairly frequently, you can check these for further back ground information, here is a recent example:

https://forums.moneysavingexpert.com/discussion/3204920


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John_Pierpoint

The way it works these days of the IHT400 return, is that the executor has to reach some agreement with HMRC, and pay a substantial amount of the tax owing, before any approach to the probate court can be made.

In my recent example of sorting out the estate of "Mr Dog" (my uncle) , I just managed to achieve the self assessed IHT tax payment within the 6 month deadline. It took another 3 months to get clearance from the tax man and them apply for and get grant of probate. It then took another nearly three months to advertise for (unknown) claimants in the London Gazette and local paper.

So it was a year before I, the executor, and the other half a dozen beneficiaries could receive any payment.

Threads about inheritance and tax appear on here fairly frequently, you can check these for further background information, here is a recent example:

https://forums.moneysavingexpert.com/discussion/3204920