IHT solicitor 'no win - no fee' service?

getmore4less

cc120 wrote: »

Hi getmore4less
Properties worth circa 800,000.
Penalties now around £50,000 to £100,000
IHT allowance tax £300,000, as not claimed within 24 months.

nil rate band is £325k

IHT around £190k plus interest,


How have you worked out penalties to be £50k-£100k?

this link would suggest a new administrator could use mitigating(lack of care) circumstances to keep penalties in the 0-30% range.

http://webarchive.nationalarchives.gov.uk/+/http://www.hmrc.gov.uk/agents/penalties.htm


Between you need professional help to understand how HMRC will deal with the late filing penalties or bite the bullet and phone HMRC and ask them.

I think getting the transferable nil rate band will be a much harder job but again this is one for professionals.

cc120

getmore4less wrote: »

nil rate band is £325k

IHT around £190k plus interest,


How have you worked out penalties to be £50k-£100k?

this link would suggest a new administrator could use mitigating(lack of care) circumstances to keep penalties in the 0-30% range.

http://webarchive.nationalarchives.gov.uk/+/http://www.hmrc.gov.uk/agents/penalties.htm


Between you need professional help to understand how HMRC will deal with the late filing penalties or bite the bullet and phone HMRC and ask them.

I think getting the transferable nil rate band will be a much harder job but again this is one for professionals.

Thank you getmore4less. Had we claimed for the 1st spouse IHT allowance, IHT would have been much less. Not sure if the fines start from 6months from 2nd spouse death, or 2 years?
Great point and link.

SeniorSam

STEP solicitors - http://www.step.org/for-the-public

Sam

cc120

SeniorSam wrote: »

STEP solicitors - http://www.step.org/for-the-public

Sam

Thank you Sam, I take it that this resource will be more helpful to us than http://www.lawsociety.org.uk/ to search for wills and probate solicitors.

SeniorSam

cc120 wrote: »

Thank you Sam, I take it that this resource will be more helpful to us than http://www.lawsociety.org.uk/ to search for wills and probate solicitors.

YES, not all solicitors are STEP qualified. Try to find someone who is not only qualified but has been qualifid for several years. It's like riding a bike........... the more you do it the more proficient you become.

Sam

cc120

SeniorSam wrote: »

YES, not all solicitors are STEP qualified. Try to find someone who is not only qualified but has been qualifid for several years. It's like riding a bike........... the more you do it the more proficient you become.

Sam

Thank you Sam.

getmore4less

cc120 wrote: »

Thank you getmore4less. Had we claimed for the 1st spouse IHT allowance, IHT would have been much less. Not sure if the fines start from 6months from 2nd spouse death, or 2 years?
Great point and link.

Interest kicks in at 6months, I think late filing is after 1 year, will be on HMRC site somewhere.

HMRC are not all bad,

They are much happier when people put the hands up and say sorry we messed up because.... we want to get this sorted can you help.

xylophone

There might have been money in the estate to pay IHT, etc, but I very much doubt there is now.

Presumably the deceased had bank accounts/investments?

How has anybody managed to access these without a Grant?

A Grant was certainly required because there was real estate involved.

Or are you saying that there were only joint accounts with the sibling executor?

This really is an absolute pig's breakfast - burying your heads in the sand is not going to improve the situation.

You need to have a frank conversation with your three siblings, advising them that you are going to approach a STEP solicitor with experience in contentious probate within the week, and that you will be expecting full cooperation from them?

Savvy_Sue

cc120 wrote: »

The brother who was to act has most to lose/gain and the only one with the money to do anything about it, but didn't as he was worried about a long, drawn out court case, without guaranteed results.

Forgive me if I'm being dense here, but what long drawn out court case is envisaged here? Is it the one relating to claiming the first-to-die's IHT allowance, or some dispute over the will?

SeniorSam

Savvy_Sue .................... It's an assumption and all within the thread.

Sam