We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
More help please regarding submitting IHT205 & P1AP
meat_n2_reg
Posts: 320 Forumite
Hello
I have completed both the IHT205 & PA1P froms
Regarding evidence gathered , total estate value approx £100k so No Inheritance tax
From form IHT205 Q11.1 ( Savings) I have paperwork from bank for balances for accounts which I have used for figures
From form IHT205 Q11.2(Household & personal goods) I have compiled a speadsheet listing items with a estimated market sale value , only comes to approx £1000
Would the above be acceptable for a small valued estate ?
I am wondering if it would be better to submit IHT205 & PA1P forms online , any experiences ?
I would still need to post hard copy of documents so now sure there is much benefit ?
Thanks in advance
I have completed both the IHT205 & PA1P froms
Regarding evidence gathered , total estate value approx £100k so No Inheritance tax
From form IHT205 Q11.1 ( Savings) I have paperwork from bank for balances for accounts which I have used for figures
From form IHT205 Q11.2(Household & personal goods) I have compiled a speadsheet listing items with a estimated market sale value , only comes to approx £1000
Would the above be acceptable for a small valued estate ?
I am wondering if it would be better to submit IHT205 & PA1P forms online , any experiences ?
I would still need to post hard copy of documents so now sure there is much benefit ?
Thanks in advance
0
Comments
-
At a total of c £100,000 nobody is going to query it, but the savings should include any interest accrued to DOD which you can usually only get after you notify them.
Household goods. Unless there is some indication of a vary large error, whether you use £500, £1,000 or £2,000 is not going to cause any query.
Are you sure about having to post forms even if you complete online? Looks to me as if its either/or.
If you have completed the forms in their PDF format then I doubt much, if any, time is saved by repeating the exercise online.
Are you including any evidence to support the flat value at £80k or just giving the address and your valuation?0 -
Thanks for your reply
From what Ive read if you submit online you still need to post documents including the original Will
Have had 3 valuations for property as proof of value
Regards0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards