IHT for foreign domiciled deceased with UK stocks/shares

vika09

Hi there,

My father passed away in May 2019 without a will. I'm his only son and his wife (my mum) is alive. 

He was an Indian citizen who was domiciled in India since 2013. He last resided in the UK in 2001.
Getting the Indian equivalent of letters of administration has been a painful process that my mother handled but during this process we discovered my father had shares in companies through his employee share plan benefit which is administered by a UK based share registrar.
 
The value of the shares at the time of death are lower than the £325000 threshold but higher than £150000 (so I guess I can't use IHT 207).

Hence, I'm in the process of filling out the IHT 400 and 401 form. It seemed relatively straightforward. When it asked what kind of assets are in the estate (box 29 to 47), I thought the answer would be 'No' for all except the one about shares. However I'm confused by certain questions asking to disclose and value foreign assets. 

Maybe reading through a 92 page IHT 400 guide has fried my brain, but if my father was domiciled in India  (not lived in UK since 2001) the boxes asking if he held foreign assets should be answered  'no', right? I'm thinking this because IHT417 relates to "Use the IHT417 with form IHT400 if the deceased had a permanent home in the UK when they died but had assets outside the UK." 

Would appreciate any thoughts whether my interpretation is reasonable. Please let me know if this type of question is not appropriate for this board. Thank-you. 

Keep_pedalling

IHT 400 is primarily designed for UK residents, but those questions do not apply to your father, and that part of his estate is not taxable in the UK, so I think you can safely answer no to those questions, all the info about his Indian estate that HMRC need will be on 401.

kuratowski

That seems to be correct, on page 11 of the (92 page) IHT400 notes it says (in circumstances which apply here): "Fill in the IHT400 with details of assets in the UK only."