Have I filled in the correct IHT forms?

xinran

I think my situation is a very straightforward, but I’m nevertheless unsure that I’m filling in all the right probate forms...

My Dad passed away in May, and unfortunately my Mum followed him 7 months later. My Dad left a will, and everything went to my Mum, except £4k cash, which was split equally between my brother and me.

We valued my Dad’s estate at just under £300k, filled in the PA1 and IHT205, and received a grant of probate. No IHT was payable (because it all went to Mum, but it was under the IHT limit anyway)

My Mum left no will. Her estate is valued at about £430k. With her house making up about £370k.

Now applying for a Grant of Letter of Administration (as I understand it, not Grant of Probate as she left no will).

So I believe
- I need a PA1 and this time an IHT400 (because the estate is over £325k).
- Because my Dad’s £325k IHT thresholds was unused, it will be added to Mum’s £325k thresholds, there will again be no inheritance tax to pay.
- There is no need to claim the residential relief, as the above will cover it.

Is that right? Or do I need any other forms to claim tax exemption?
There is something about an unused nil rate band. Would that be the £325k threshold my Dad had, less the £4K which went to my brother and me? So that in fact, the threshold for my Mum’s forms is £325k + £325k - £4K. But we still don’t need to fill in an IHT 205 (claiming unused nil band), as we don’t need it? ...surely it’s not that complicated...

Thank you so much for your help. As I said, I think our case is a simple one, but I’m still confused...

Keep_pedalling

You will definitely have to fill in supplementary form IHT402 to transfer the NRB, and there are a whole load of supplementary forms that may be required, but you should be able to work out which are needed when you fill in pages 5&6 of IHT400.

Tom99

Once you work out which forms you need you can download them from here:

https://www.gov.uk/government/collections/inheritance-tax-forms

xinran

Thank you both.
I’ve downloaded and started completing the 10 forms I need to complete.

Savvy_Sue

You may find that although you need to complete 10 forms, you don't need to complete very much of some of them!

Take it steadily and just plod through in an orderly manner ...

xinran

Thanks Savvy Sue. You’re right, lots of zeros and skipped sections.

I’ve been plodding through all afternoon/evening...
Nearly done, but think that’s enough for now.