IHT Calculator - Confusion for Probate

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  • dan411
    dan411 Posts: 14 Forumite
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    Ah yep that makes sense, thank you for clarifying that, that’s really help. It’s a mindfield. 

    As you see from my earlier post, I don’t need to pay inheritance tax, but the calculation says I do. Because of this reason do I need to get an IHT reference number or can I just start the IHT 400 form? 

    Also do I need to complete a PA1P form as well? 

    When I start to apply for probate online, it says that I need to wait for my unique probate code which I gather you get once IHT400 is completed and sent off with all relevant schedules? 

    Thank you 
  • polar_pig
    polar_pig Posts: 84 Forumite
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    edited 14 March at 2:10AM
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    dan411 said:
    Hi @polar_pig, a question which I am hoping you can help with, when it come to IHT on gifts. 

    If a gift was given as 1 cheque but for 2 people, so help with a deposit for a house, then can you take of 2x £3000 as it was for both of them, or because it only went in one account, you can only do 1? 

    Thank you 
    It seems like your question has been well addressed by Notepad_Phil. The only thing I could add is the possibility that the gift could have been made from "excess income" where the testator made the gift from income that exceeded the testators other expenditure in those tax years. However, you may need to do a lot of digging through paperwork to prove that and then check the details against the gift rules.

    However, gifts that exceed the annual gift allowance may not impact the IHT if the excess doesn't raise the net estate above the applicable nil rate bands. In such a case extra effort to utilise other gift allowances is unjustified.
    Polar Pigs live in pigloos.....
  • dan411
    dan411 Posts: 14 Forumite
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    Brilliant, thank you, that all makes sense. 

    Then just to follow on from all this and incase it got lost within the posts: 

    As you see from my earlier post, I don’t need to pay inheritance tax, but the calculation says I do. Because of this reason do I need to get an IHT reference number or can I just start the IHT 400 form? 

    Also do I need to complete a PA1P form as well? 

    When I start to apply for probate online, it says that I need to wait for my unique probate code which I gather you get once IHT400 is completed and sent off with all relevant schedules? 

    Thank you 
  • polar_pig
    polar_pig Posts: 84 Forumite
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    Yes, you'll need to do a PA1P as well to apply for probate.

    Also, see this:
    https://www.rixandkay.co.uk/2024/01/25/hmrc-revises-probate-application-procedure/

    Polar Pigs live in pigloos.....
  • dan411
    dan411 Posts: 14 Forumite
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    Thank you, 

    and would I need an IHT reference number if I know no tax is due but the calculator says there is? 

    Thank you for your help. 
  • dan411
    dan411 Posts: 14 Forumite
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    Hi all, 

    just trying to work out if I need the IHT reference number. The calculator says we need to pay tax, but once we have taken off allowances we don’t, so I am unsure if I should get one or not? 

    Thank you for your help. 
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