C1 Scotland Inventory

muddyboots20

@buddy9

Hello, I’ve seen your comments on this forum and you give very helpful advice. I wondered if you could help me with a couple of questions I have about the inventory.

I am completing an inventory as one of the executors. My mother signed her property to my sister and I in 2008 when she bought her flat. However she lived in the property and for all intents and purposes it was hers. My understanding is this is a gift with reservation of benefit and therefore must be included within her estate. Which is fine, I just wanted to know how it would be detailed on the inventory, if at all. Or if it’s included on the valuation in box 23 instead.

I am also slightly confused by the wording required in box 2 under the declaration, could you help me with this as well? I am her son one of the executors and my sister is the other.

Many thanks!

buddy9

https://forums.moneysavingexpert.com/discussion/comment/81889425#Comment_81889425

If the deceased did not own the house then the house is not shown in the inventory.

If there is a gift with reservation of benefit then the gift is part of the estate for IHT purposes and the value is added when calculating the value for IHT. However - an estate which includes a gift with reservation of benefit is not an excepted estate and an HMRC account is needed using IHT400. 

You will want to confirm that your understanding of house ownership is correct and whether this is indeed a gift with reservation of benefit.

Para 2 suggestion if there is a will and there are no name or address differences from the will.

That I am

along with [sister’s full name] residing at [address] the executor-nominate of the deceased conform to her will dated the [    ]of [       ] which is exhibited, docquetted and signed by me as relative hereto, and that I am the son of the deceased and the said [sister’s full name] is the daughter of the deceased.

muddyboots20

Thank you @buddy9

She also had a small investment bond portfolio with St James’s place, although she was based in Scotland, her adviser was in London, do you know if this would come under personal estate in England?

On page 5 also, my mother would have inherited my father’s nil rate band when he died in 2002, presumable I tick box 22 as yes? 

Sorry to ask you so many questions but for page 2 box 1, how do you name the “Sheriffdom” for Glasgow?

many thanks!

buddy9

Suggest do not use two separate threads

zoom26

Hi I am looking for some advice for my niece to complete a C1 form for her dads estate (Scotland)

He had a bought house with a mortgage, bank accounts and a car which I have put on the inventory.

1. Where do you record any payments into his bank account or cheques sent, after the date of death, e.g, last wage, refund from TV licence and Car tax refund? do these go in the Inventory?
2. What goes in Boxes 23-25 (Gross & Net value of estate for IHT)? IHT will not be due as estate under threshold.
3. Also there was a cash amount given to his daughters of £10000 2 years ago, where would this be recorded because of the 7 year rule?
4. Is this the correct wording for the declaration - That I am …… Executrix nominate of the said deceased, (Name) , conform to the will dated and signed, on 9th May 2024, which is exhibited, docquetted and signed as relative hereto and that I am the daughter of the deceased.

The mortgage balance has been entered into box 13.

Thank you for any advice

buddy9

A salary payment made after death but which relates to pre-death employment would be listed in the inventory as a moveable asset such as - Salary due to the deceased.

Strictly speaking, minor refunds should be listed as assets - though these are often not included on the inventory where the estate is excepted and straightforward.

If there are no name, address or executor differences from that stated in the will, then the declaration might be simply

That I am

the daughter and executrix-nominate of the deceased conform to the will dated the 9th of May 2024 which is exhibited herewith signed and docquetted as relative hereto.

Box 23 equals the sum of box 11 and any additional items of estate relevant for IHT such as non-exempt gifts or property which passes by survivorship. So in this case the non-exempt elements of the gifts would be included in calculating the value of box 23.

The values entered on boxes 12, 13 and 14 are deducted from the box 23 value to give the value for box 24.

For box 25 - from the value in box 24, subtract the amount of estate that is exempt from IHT such as that which passes to a spouse or to charity. Where a spouse inherits everything, the NQV will be zero. Where there is no spouse or charity inheritance, NQV will be the same as box 24.

Suggest you add an extra line in the summary

Summary for Confirmation

ESTATE IN SCOTLAND                        £ xxxx

ESTATE IN ENGLAND AND WALES    £ xx

ESTATE IN NORTHERN IRELAND       £ xx

TOTAL FOR CONFIRMATION              £ xxxx

Estate elsewhere      nil

I presume that you are certain about his sole house ownership.

A bank account entry might include text like 'balance at date of death including interest'.

Superpigfc

Hi @buddy9 - first of all thanks for all the work you're doing on this forum. Having been through confirmation for both my folks I know how much your help is appreciated.

I need to ask you two questions as now we're dealing with the death of my inlaws, 7 weeks apart (father-in-law first). Is there anything different when the deaths are so close together or do they remain standard confirmations with balances etc at the date of death for each one? We were going to do half shares for father-in-law, then full amounts including inherited sums for mother-in-law. Wills put everything to surviving spouse first, then to adult children.

Also - there's a few household and personal items worth some money - maybe low 4 figures. Do we need to list anything individually or can we just list one lump sum?

buddy9

https://forums.moneysavingexpert.com/discussion/comment/81907082#Comment_81907082

Assuming that both estates will be excepted estates for IHT purposes.

Where house ownership is involved and there is a special destination (survivorship clause in the house title), then sometimes Confirmation is not required for the first to die. In such a case it could depend on the estate content and whether a fund holder requires Confirmation.

A will might have a suspensive condition such as a requirement for a spouse to survive the testator for a specified period (eg survive for 30/60 days). Where such a condition operates it will likely not alter the need for Confirmation, but might alter the estate of the second to die.

The share of household goods will be a single entry. The value of personal effects can be a single entry - unless you have some reason for an item to be listed separately (I cannot think of a reason).

zoom26

https://forums.moneysavingexpert.com/discussion/comment/81906942#Comment_81906942

Thankyou very much for your help @buddy9 for your advice as well as what I have found on this forum to help us complete this form.

• Yes we are certain that the he had sole ownership of the house
• We have added in the text you have suggested.
• Paragraph 3 of declaration, if there is no joint executors can the box 'along with the said' be left blank?
• We have included the cash gift amount to the figure in box 23 as it was gifts totalling over the yearly limit.
• have added in his last salary payment to the inventory, but to clarify, Should I add small refunds such as car refunds? don't want this to get rejected due to small details.
• The Total estate for confirmation in box 9 is the total of inventory, rather than the Net Value?
• the inventory is now over the one page so if we use the extended form that contains multiple inventory pages can we remove the pages not used or leave them in as we cannot amend the page numbers of final pages afterwards?

once again thankyou, you have made a difficult and expensive process more manageable for my nieces.

buddy9

Paragraph 3. With a sole executor, strike through the words ‘along with the said’ and leave the 2nd box blank.

Small refunds? Personal decision.

Box 9 is confirmation gross, same value as box 6 on page 2 and box 11 on page 4

Inventory length. The entries

Heritable and Moveable estate in England and Wales

Nil

and  

Heritable and Moveable estate in Northern Ireland

Nil

can be omitted to give more space if there is nothing to list under these headings. 

If the inventory is still over one page - 3 options

1. Use the extended C1 version, omit blank pages and manually amend page numbering.
2. Use a C2 page
3. Print your own inventory and include it as a ‘paper apart’ appendix