Probate and estate duty 1970

Rectory

On a Grant of Probate dated March 1970, why would it read that Estate Duty of £747 was paid, when the net estate was  recorded as £5028 and the threshold for 
paying  duty at the actual death, ( my father's),  in Dec 1969 was £10,000? No experts  I have consulted have an explanation!

Old_Lifer

Gifts made within 7 years of death included?

Keep_pedalling

If you look at the current IHT 400 form you will see that the total chargeable estate can be higher than the total net estate. Things  like foreign property, trusts and gifts with reservation are not included in the net value of the estate but do form part of the chargeable estate.

Dox

Rectory said:

On a Grant of Probate dated March 1970, why would it read that Estate Duty of £747 was paid, when the net estate was  recorded as £5028 and the threshold for 
paying  duty at the actual death, ( my father's),  in Dec 1969 was £10,000? No experts  I have consulted have an explanation!

Doesn't sound as if they really merit the title 'expert', given the simple explanation provided by Keep Pedalling!