I think we have managed to sort everything out... nearly!

tasticz

Hi guys,

I just wanted to confirm if I needed to do anything else.

My father passed away back in March 2020 and had a will but we never applied for the probate as we didn't think we needed to as it was all going to my mum. 

We have I believe managed to close everything without a probate.

• Properties were in joint names and banks have now transferred mortgage to my mums name. Barclays have said we need to fill the land registry document ourselves to remove my dads name off the title deeds - going to do that shortly.
• All money from his personal bank account has been received and accounts closed.
• Private pension money have been received.
• Limited Company liability paid as per accountants calculations. Company strike off application is in process - seems to be taking ages... been 3 months already?? 
• Self assessment completed and paid HMRC the amount due which was due January 2021.
• All bills transferred to our names.

There is no inheritance tax due so did not fill any inheritance tax documents - do i need to fill this in?

Is there anything else I need to do?

Marcon

Were the properties all owned as joint tenants (probate not needed)? If one or more property was held as tenants in common, then probate is needed.

Limited company strike off takes at least 3 months. Has the accountant ensured that final accounts/company tax return have been prepared and submitted to Companies House?

tasticz

Marcon said:

Were the properties all owned as joint tenants (probate not needed)? If one or more property was held as tenants in common, then probate is needed.

Limited company strike off takes at least 3 months. Has the accountant ensured that final accounts/company tax return have been prepared and submitted to Companies House?

All properties joint tenants.

limited company all accounts filed and paid and company changed to dormant. i signed the ds01 form end of June but it is still not struck off

Savvy_Sue

Is the company owed any tax? There can be difficulties if it is struck off too soon if that's the case ... 

tasticz

Savvy_Sue said:

Is the company owed any tax? There can be difficulties if it is struck off too soon if that's the case ... 

Sorry, Why would the company be owed any tax?

It was a 1 man limited company. I became the director after my father and all corporation tax and VAT was paid for before the company was made dormant and application was put in. Company account closed after the application was initiated.

I did some googling and it seems company house put a stop on voluntary strike off... so it was reinitiated in Septmber 10th. I assume my application is probably being processed...

https://www.gov.uk/government/news/companies-house-to-restart-the-voluntary-strike-off-process

Savvy_Sue

tasticz said:

Savvy_Sue said:

Is the company owed any tax? There can be difficulties if it is struck off too soon if that's the case ... 

Sorry, Why would the company be owed any tax?

It was a 1 man limited company. I became the director after my father and all corporation tax and VAT was paid for before the company was made dormant and application was put in. Company account closed after the application was initiated.

I did some googling and it seems company house put a stop on voluntary strike off... so it was reinitiated in Septmber 10th. I assume my application is probably being processed...

https://www.gov.uk/government/news/companies-house-to-restart-the-voluntary-strike-off-process

I'm not sure, I just remember a thread on here where someone had arranged for their company to be struck off, and then found they were owed something - maybe it wasn't tax - but because it had been struck off the only way to get that money was to reinstate it, which was going to cost nearly as much as was owed. 

getmore4less

Marcon said:

Were the properties all owned as joint tenants (probate not needed)? If one or more property was held as tenants in common, then probate is needed.

Limited company strike off takes at least 3 months. Has the accountant ensured that final accounts/company tax return have been prepared and submitted to Companies House?

Does not matter Joint or TIC
As long as there is a living legal owner all that is needed is the death certificate to remove any deceased legal owner.

poppystar

Having read from the link below it sounds like probate is needed for tenants in common. 
@getmore4less can you clarify why it might not be needed and can be done with death certificate. Thanks.

https://www.co-oplegalservices.co.uk/media-centre/articles-oct-dec-2019/is-probate-needed-for-tenants-in-common/

getmore4less

That link is misleading, because it MAY be needed to seal with the share but in most cases it is not and some other reason trigger the need for the deceased estate.

Loads of threads on here cover this anyone that has followed this board for more than a few months will have come across more than one.
basics to remove a name

https://help.landregistry.gov.uk/app/answers/detail/a_id/125

and the link within
https://www.gov.uk/government/publications/devolution-on-the-death-of-a-registered-proprietor/practice-guide-6-devolution-on-the-death-of-a-registered-proprietor

Dealing with the beneficial interest is done by the surviving legal owner(and might need a second trustee if there is a formA restrictions, that can be anyone)

tasticz

if there is no inheritance tax to pay, then there is no need to fill in inheritance forms right?

Savvy_Sue

tasticz said:

if there is no inheritance tax to pay, then there is no need to fill in inheritance forms right?

it may not be essential, but it may save some hassle when your mother dies. You won't be able to sell the house without probate for her, and that may be easier to sort out if you've done probate for Dad. And it's often easier to do that within a reasonable timescale than in - say - 20 years, should your mother have longevity in her genes.