Mistake on submitted IHT form.

Yamenja

getmore4less said:

I suspect HMRC are fairly pragmatic a lot of times.

Their primary interest is collecting tax not creating work.

Whoever processed the IHT forms could see that the estate would not be subject to IHT and chasing the correct paperwork would not change that so why bother. 


There are two departments here the courts which deal with the grant and HMRC that deal with the tax.
I understand that with IHT205 the courts issue the grant unless HMRC put the stops on.

I would continue with the administration tasks now you have the grant  but be aware that there is this loose end and be ready to respond should HMRC come back and ask for updated paperwork.

For your own benefit a correct inventory and account and notes on what should have been submitted for IHT in case they come back later when you might not remember all the details.
  

Yes, although it was surprising, it seems they may have changed the way they operate, to some extent, in order to prevent further horrendous backlogs. I've heard of other cases recently where it's been granted very quickly. I will certainly keep all related paperwork, and that includes a tally of what has come in and gone out in relation to the estate. Thanks for the reassurance!

poppystar

Pleased it all worked out ok🙂

You say you “assumed” no Will etc for your father. Have you checked online if there was probate granted? It might be useful if there was to keep a copy of that with your paperwork. 

Also, did you get a valuation for the property to include on the forms you submitted. If not it might be worth doing that now so you have a current market value rather than having to get it retrospectively if anyone asks in the future.


This might just be overkill, it’s just what I would be doing rather than something required.

Yamenja

poppystar said:

Pleased it all worked out ok🙂

You say you “assumed” no Will etc for your father. Have you checked online if there was probate granted? It might be useful if there was to keep a copy of that with your paperwork. 

Also, did you get a valuation for the property to include on the forms you submitted. If not it might be worth doing that now so you have a current market value rather than having to get it retrospectively if anyone asks in the future.


This might just be overkill, it’s just what I would be doing rather than something required.

Thanks Poppystar. I am sure you would never have got into this situation in the first place!. My 'assumption' about my father not making a will is an understatement, in that I absolutely know he would not have. My mother 'wore the trousers' and didn't consider a will until 10 years ago, which was long after he passed and she was 86. I tried to get a valuation from an estate agent but he was dodgy, imo, giving a vastly inflated valuation (to get me on their rather meagre books I think) then ringing next day to say he had a colleague who was close to completion on the sale of his own property and would be very interested in viewing mine. It just felt fishy to me, but I don't think it was far off with mine, despite getting edgy about it and the whole process. I see why it would be prudent though, and might do it as much out of interest as anything.