IHT400 Timescale

baggins_22

Hey, I think this is going to be another 'how long is a bit of string' based on the past responses regarding probate timescales. However I wanted to understand others experiences. 

We submitted probate back in May, probate have (finally) come back with a response asking that we complete an IHT400 (my fathers estate is over tax threshold but is split between myself and my brother and sister so qualifies for RNRB)

I wondered what the timescales would be after we submit this, does the 10-12 weeks start again? or are we likely to get a response sooner now we are actually 'in process'

Keep_pedalling

As your father died this year and his estate is below £500k I am surprised that you are being asked to fill one in. Under the new system you should not need to fill one in.

As for time scales you will be totally dependant on how quickly HMRC deal with it.

shiraz99

Keep_pedalling said:

As your father died this year and his estate is below £500k I am surprised that you are being asked to fill one in. Under the new system you should not need to fill one in.

As for time scales you will be totally dependant on how quickly HMRC deal with it.

In order to apply the RNRB you still have to complete the relevant IHT forms.

Keep_pedalling

shiraz99 said:

Keep_pedalling said:

As your father died this year and his estate is below £500k I am surprised that you are being asked to fill one in. Under the new system you should not need to fill one in.

As for time scales you will be totally dependant on how quickly HMRC deal with it.

In order to apply the RNRB you still have to complete the relevant IHT forms.

I stand corrected, to use the transferable RNRB does still require a full IHT return.

https://www.gov.uk/valuing-estate-of-someone-who-died/check-type-of-estate

baggins_22

Thanks for the replies, I would be really interested to hear from anyone who had a similar experience. We were quoted timescales at the start of the process (which were not really met) but have no idea what happens now that they have actually started looking at the case. We completed and submitted the IHT400 this week and sent it back, but am now wondering if we are in for another lengthy wait for them to review this again

baggins_22

Just an update from the latest online chat with probate:

We completed the IHT400 last week and submitted this all online. Probate have advised they are now waiting waiting on IHT421 from HMRC, before they can do anything further. That takes around 20 working days, so 1 month from Friday.

Then the process resets and will take around 6 weeks from there (despite it taking 11 when we submitted originally).

The application is on hold until they receive the IHT421 and the timer will start again once they receive it.

So another 10 weeks at least 😭😭😭

These timescales are crazy, we are waiting to sell a house / car etc.

Whats even more frustrating is that we spoke to probate several times between week 8 and 11 to make sure they had everything they needed, which they advised they did. Then it finally moves to review and they advise they need the IHT400 and supporting forms, so frustrating at a very bad time of life 

macman

You can still proceed to progress the house sale up to exchange in the meantime though? Anyone buying a probate sale property must be aware of the potential delays?

baggins_22

macman said:

You can still proceed to progress the house sale up to exchange in the meantime though? Anyone buying a probate sale property must be aware of the potential delays?

Thanks we did talk this through with the estate agents. They advised that the audience would be more limited for a probate property and it would be better to wait