Barclays not releasing information

Dunaskin

Barclays Bereavement Team are under severe pressure and simply cannot respond to enquiries.  I have sent them all the certification, ID etc. they say they need but they cannot confirm receiving them, much less release the information I need.  I need to apply for Probate, but I can't do this without information on the deceased's assets.  What happens if the deadline for IHT payment arrives, and I have not been able to get information from Barclays?  Can I put an estimate of the deceased's assets on the IHT form?

Keep_pedalling

Yes, you can supply an estimated value. This can be amended later if it effects the amount of IHT to be paid.

xylophone

https://www.co-oplegalservices.co.uk/media-centre/articles-jan-apr-2018/inheritance-tax-you-only-have-6-months-to-pay/#:~:text=You have around 6 months,end of the following August.

Dunaskin

Thankyou for replies.  I got my IHT reference number today.  The letter says 'Your account will be late if we  receive it after 12 months from the end of the month when the person died - if you're sending us a form IHT400'. 
So looks as if the deadline has been extended, though I have not seen this mentioned elsewhere.

xylophone

A Covid related concession presumably?

There was this around nine months ago but it seems very much "discretionary"?
https://www.tax.org.uk/policy-and-technical/covid-19/personal-and-trust-taxation-including-cgt-and-iht

Dunaskin

Yes, but what is the difference between 'account' (referred to in my letter) and 'file' (in your linked source)?

xylophone

https://www.gov.uk/valuing-estate-of-someone-who-died
The IHT 400 is the full IHT account which has to be "filed" (received by HMRC).

In the above it says within  one year but you have been told that it will only be late if received after twelve months have passed.

Not much of a concession (if any)!

However from the link https://www.tax.org.uk/policy-and-technical/covid-19/personal-and-trust-taxation-including-cgt-and-iht referred to in previous -

The Financial Secretary to the Treasury delivered a Written Answer on 18 May Probate Q&A:

Question by Olivia Blake MP: To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending probate for people who have experienced bereavement during the covid-19 lockdown and who therefore cannot meet the six month deadline for inheritance tax submission.
Answer by Jesse Norman MP: While there is no statutory deadline for making probate applications, the Government is aware of concerns about the six-month deadline for paying inheritance tax and the twelve-month deadline for filing a return. Where a taxpayer is unable to file their return on time because of COVID-19, HMRC will consider that within the scope of a reasonable excuse and as grounds for appeal against late filing penalties. The Government continues to explore all avenues to help those affected.

HMRC have confirmed that personal representatives will have to demonstrate how, in their specific circumstances, Covid-19 related issues amount to a reasonable excuse for their delay in filing an IHT return after the statutory limit (12 months after the end of the month of death). The 6-month limit for payment of IHT is unaffected. If personal representatives are unable to file an account at the 6 month point, they should estimate the IHT due and make a payment on account to prevent interest accruing.

But note what is said about the six month payment for the payment of IHT - it is "unaffected".

Do you have no idea at all of the value of the deceased's estate?

Dunaskin

Yes I have an idea, I will have to submit that.  But I would prefer to submit exact figures.  I am annoyed with Barclays' chaotic procedures.  I have sent them the death certificate once, they returned it saying they had made a copy, now they are asking for it again.

Dunaskin

I eventually succeeded with Barclays by going on Twitter and engaging with their Help team (who are there out of office hours).