Form C1 Confirmation - Inventory [Scotland]

Teabagger

The deceased passed away in Scotland and held a portfolio of more than a dozen funds within an Aegon ISA.

Is this going to be considered as moveable property; in Scotland, or in England?

Am I required to list each constituent fund individually, or just the one line representing the total value of the ISA account/portfolio?  

I have received a summary from Aegon showing the value(s) at death, but no specific guidance about completing the inventory which would have been nice..

The deceased also held two equities in certificated form: a Scottish registered PLC, and a London registered PLC.  

The paper certificates are physically held in Scotland - does that suggest that they are both Scottish moveable property, or is one of them English based on the registered office address of each company?

I'm using Safari (version 15 on a Mac) and I can enter inventory values (in column 4) but it appears to be down to me to format them as '125,000' as opposed to '125000' etc. and presume that they are not interested in the pence?

If I can keep everything on one page, presumably I won't need to fill in the 'Carried forward' total at the bottom right hand corner?

[I've read elsewhere the requirement to create a summary table in Column 2]

SeniorSam

The Aegon value at death should be enough for that particular item. A call to the authority would get faster results as Scottish Law is different from English Law 

buddy9

The deceased passed away in Scotland and held a portfolio of more than a dozen funds within an Aegon ISA.

Is this going to be considered as moveable property; in Scotland, or in England?

If the funds are wirh a 'branch' of Aegon based in England, I think this would be listed on the C1 under moveables in 'England and Wales'

Am I required to list each constituent fund individually, or just the one line representing the total value of the ISA account/portfolio?

If you require a confirmation certificate to allow Aegon to release the funds, you will ultimately get a certificate that includes the description that you have entered on the C1. So I would anticipate that fully listing the funds is the best option. And you seem to already have the information.

The deceased also held two equities in certificated form: a Scottish registered PLC, and a London registered PLC.  
The paper certificates are physically held in Scotland - does that suggest that they are both Scottish moveable property, or is one of them English based on the registered office address of each company?

I would think that the certificate with the PLC registered in England would be listed on the C1 under moveables in England and Wales.

Keep_pedalling

Aegon’s UK HQ is Edinburgh,  so it probably gets belongs as movable Scottish assets.

Teabagger

Thanks for the input.

Although Aegon (the ISA manager) may have an Edinburgh HQ, the funds held in the deceased's portfolio include London listed funds so they may just be acting as a custodian.... 

I still want to DIY as much as possible here but I am heading in the direction of paying an expert for help in checking the forms before I submit them.

buddy9

A submitted confirmation application with perceived errors, will be returned to the applicant with a note of the items that are incorrect and which need actioned before resubmission. The fee payable is unaffected by a resubmission.

Keep_pedalling

Teabagger said:

Thanks for the input.

Although Aegon (the ISA manager) may have an Edinburgh HQ, the funds held in the deceased's portfolio include London listed funds so they may just be acting as a custodian.... 

I still want to DIY as much as possible here but I am heading in the direction of paying an expert for help in checking the forms before I submit them.

I think the safest option is to list them separately as you would if they were held in a GIA. I don’t really know why they ask you to slit them up like this it makes no difference to the amount of tax to pay or to the rights of the deceased persons children.

buddy9

Keep_pedalling said:

I don’t really know why they ask you to slit them up like this it makes no difference to the amount of tax to pay or to the rights of the deceased persons children.

The Scottish legislation requires this split in the inventory.  I am sure that there was a good reason for it at the time - in 1823 ! Yes - 19th century legislation still applies.