IHT205 QUERY 9 April at 9:38AM in Deaths, Funerals & Probate 6 replies 142 views

Hitting

Reference..Deceased Assets,Section 11.
If deceased assets are ISA’s, both Cash and Investment ISA’s,presumably the value of the cash ISAs is entered at 11.1,but where should the value of the investment ISA’s be entered?...11.3or 11.4 or neither, since these are made up of funds made up international companies and not necessarily stocks and shares  on stock exchange

Keep_pedalling

Most multi-asset funds will be LSE listed and will go in 11.3. More exotic unlisted or offshore listed funds in 11.4.

You can check the individual funds on the Morningstar website.

https://www.morningstar.co.uk/uk/funds/default.aspx

Hitting

All funds are within a couple of portfolios....assuming in total about twenty funds in each perhaps having up to 50 companies from Uk,Us,Europe,Asia etc ..are these funds listed or the companies,if based on latter,some breaking down required ...I thought LSE listed companies rather than funds?

naedanger

I expect everything will be for box 11.3, and if in doubt I would include the value there, as the investments are likely to be one of the types I have highlighted in bold. (Box 11.4 does not seem to cover any types of fund.) 


The official notes says the following:

11.3 Stocks and shares quoted on the Stock Exchange
 You should include in this box:
• UK government securities such as treasury stock, exchequer stock, convertible stock and consolidated stock • all stocks, shares, debentures and other securities listed on the Stock Exchange Official List
• unit trusts
• investment trusts
• open-ended investment companies 
• shares in an ISA

11.4 Stocks and shares not quoted on the Stock Exchange
You should include in this box:
• shares in a private family company which are not listed on the Stock Exchange
• shares listed on the Alternative Investment Market (AIM), which may be part of an ISA
• shares traded on OFEX (an unregulated trading facility for dealing in unquoted shares)
You’ll be able to value shares on AIM or OFEX in the same way as quoted stocks and shares.

Hitting

Thank you,...my thoughts also!..

Hitting

Section 11.2 Household and Personal Goods:

Does one have to go through every room in the house and evaluate items like....Chairs,table,beds,carpets, etc..etc?

naedanger

No. For household goods and personal possessions, just put in one total figure unless the house insurance listed any valuable items separately when you might wish to list them separately. (The total figure might be quite small since the value of second hand household and personal goods is normally minimal. I think I put in £1000, and I knew that was an overestimate, but as the estate I was dealing with was below the IHT threshold it didn't make any difference to anything.)