Completing a C1 Confirmation form in Scotland

LK121

Hello
I am currently completing a C1 Confirmation form in Scotland.
In my head it is very simple. Heritable Estate is £100,000 (which is the house)
Moveable estate is very little - A life insurance policy which covers the outstanding mortgage leaving a balance of £4,000 a bank account with £1,000 balance and a car in negative equity which needs to be returned to the finance company.

I have come to the part on the Inventory where I need to summarise for confirmation. 
How can I word it that there is actually no moveable estate left once the mortgage is paid off and the funeral expenses are paid? In fact there is actually negative equity. It still looks as though there is £93,000 in the estate in BOX 15 but that is theoretical depending on selling the house.

Has anyone experienced this?

Thanks in advance.

buddy9

Box 15 does not relate to the moveable estate, it is the net value of the whole estate (heritable and moveable) so on the basis of the information given, a total of £93K or thereabouts in box 15 would seem correct.

(I am assuming that the property was solely owned by the deceased).

LK121

Thanks for taking the time to reply. Yes it was solely owned.
So would it be correct to assume that this form is merely to work out if any inheritance tax is due?
In the help notes it talks about deducting the amount in the legitum fund - here I'm referring to BOX 25. In fact because there is no money left re moveable estate, there is no legitum fund. So in box 25 I have put 0 for net qualifying value of estate.
Does that sound correct?

buddy9

LK121 said:

Thanks for taking the time to reply. Yes it was solely owned.
So would it be correct to assume that this form is merely to work out if any inheritance tax is due?
In the help notes it talks about deducting the amount in the legitum fund - here I'm referring to BOX 25. In fact because there is no money left re moveable estate, there is no legitum fund. So in box 25 I have put 0 for net qualifying value of estate.
Does that sound correct?

The C1 is used to obtain Confirmation which gives the executor right to administer the estate. In this specific case the executor will need Confirmation to enable sale or transfer of the house. And all C1s have a section (page 5) on IHT.

NQV will only be zero if the estate passes to a spouse and/or charity etc.

Newby2dis

Hi everyone, I’m new to this so not sure if I am doing this correctly. 

I too am about to start completing the C1 form and already unsure at page 1. 

Number 8 asks for place of death so do I put my late mum’s full address in there or just Scotland? 

Many thanks in advance. 

buddy9

you can enter

town name, Scotland

There is a thread on Confirmation, in case you have not stumbled across.
https://forums.moneysavingexpert.com/discussion/4965475/grant-of-confirmation/p85

Newby2dis

Thank you so much for your help and the link. I will have a look at it. I really appreciate it.