Probate & ITH forms confusion

GPF

I lost my father last month & in the process of sorting the various finances etc for Mum.
I hope to apply for probate & sort out the taxes myself.


I've been advised that I need to fill in a PA1 form, which I have almost finished up to the details of the estate on the last page.

I am getting a little confused on which forms I need to complete..


The property value is £110k & is in joint names & funds left in a bank account was £21k & nothing else.

While filling out the PA1 it also mentions an IHT406 & 404, which one should I be returning etc?
Do I need the IHT 205 as well?

Thankyou in advance!!

JJ_Egan

Both if joint assets .

http://search2.hmrc.gov.uk/kb5/hmrc/forms/view.page?record=ID-K_xN6ens&formId=3309


Use the IHT404 schedule with form IHT400 to give details of all UK assets the deceased owned jointly with another person

Use the IHT406 schedule with form IHT400 to give details of any National Savings Investments, Premium Bonds, bank or building society accounts that the deceased held in their sole name that were in credit at the date of death

GPF

So am I right in thinking I just need the IHT 400,404 & 406 plus the PA1 probate form?

Crabapple

Given those figures, unless there's something else unusual in the Estate I don't think you need the 400 forms at all.

You should fill in the IHT205 - it has sections for joint and sole assets.

If you're concerned check with the Probate Registry helpline as they should be able to guide you.

BobQ

GPF wrote: »

I lost my father last month & in the process of sorting the various finances etc for Mum.
I hope to apply for probate & sort out the taxes myself.


I've been advised that I need to fill in a PA1 form, which I have almost finished up to the details of the estate on the last page.

I am getting a little confused on which forms I need to complete..


The property value is £110k & is in joint names & funds left in a bank account was £21k & nothing else.

While filling out the PA1 it also mentions an IHT406 & 404, which one should I be returning etc?
Do I need the IHT 205 as well?

Thankyou in advance!!

Fill out the PA1 and IHT 205. The latter is for "exempted estates".

Based on the values you state the estate is likely to be exempted. This does not apply to certain situations (explained on HMRC website under "exempted estates"). Only if these special circumstances apply do you need to fill out an IHT 400 series form.

The IHT205 asks you questions as I recall which if you give certain replies directs you to the more complicated full return (IHT400 series).

Crabapple is right the helpline is very good at explaining this type of thing.

(the above applies to E&W. If you are in Scotland it may be different).

BobQ

JJ_Egan wrote: »

Both if joint assets .

http://search2.hmrc.gov.uk/kb5/hmrc/forms/view.page?record=ID-K_xN6ens&formId=3309


Use the IHT404 schedule with form IHT400 to give details of all UK assets the deceased owned jointly with another person

Use the IHT406 schedule with form IHT400 to give details of any National Savings Investments, Premium Bonds, bank or building society accounts that the deceased held in their sole name that were in credit at the date of death

This is poor advice. IHT 205 is most likely the form required.
http://www.hmrc.gov.uk/inheritancetax/intro/basics.htm
Unless you are a millionaire.

Catch-22_2

I used The Inheritance Guide's system, mentioned in Sunday Times article "Where there's a will, there's DIY Probate" and found it really easy (and free) to use. It worked out what forms were needed and filled in all the sections for me.