Report value of estate?

WaywardDriver

You could do a dummy run for when your father passes. Start with IHT205 (fillable pdf) and quickly put in approximate figures, switch to IHT400 if told to depending on your answers. Both will require supplementary forms for transferrable allowances which might help re gaps for your mother.    

miss_marple

Thanks for the replies. I guess my only question now is whether you are supposed to go through the process of reporting the value of the estate no matter how small you believe it to be. On the Gov website there is a through process after a death, and towards the very end it mentions this https://www.gov.uk/valuing-estate-of-someone-who-died/tell-hmrc-estate-value

Mojisola

miss_marple said:

Thanks for the replies. I guess my only question now is whether you are supposed to go through the process of reporting the value of the estate no matter how small you believe it to be. On the Gov website there is a through process after a death, and towards the very end it mentions this https://www.gov.uk/valuing-estate-of-someone-who-died/tell-hmrc-estate-value

If you look at the first page of that link -

"As part of applying for probate, you need to value the money, property and possessions (‘estate’) of the person who’s died.

You don’t need probate for all estates. Check if you need it."

AIUI, if you don't need probate, you don't need to do anything else like reporting the value of the estate.