Transfer of Nil rate IHT

karen2013

Hi 
I am hoping for a bit of clarity regarding which forms I need to send to HMRC

Situation is this, my dear dad passed away last July leaving all of his estate to my Mum in his will. Sadly my mum has now also passed away and I understand I can transfer the unused amount of dads nil rate band to mums estate. He used none of his allowance as everything was passed to Mum am I correct that I can now transfer the full 100% of his allowance. I have filled out form IHT402 but am a bit confused as which other form I need to complete ?

His estate consisted of his half of their jointly owned home a small amount of shares and approx £40000 in cash. 

Thank you so much for reading 
Regards

p00hsticks

Sorry for your loss.

How much is the house worth and who did your mum leave it to?

karen2013

Hi 

The house is worth 400000 and she left it in equal shares to her children

Thanks

poppystar

Yes you can transfer it but these days there is no separate form filling, it is part of the Probate application. If the total estate is under the £650k (ie. 2 x £325k) then there is no need to complete any IHT forms you can just go ahead and apply for Probate. 

Keep_pedalling

If her estate is below £650k in total then you can use his transferable NRB and you will not need to submit an IHT return. If it is over that you will need to also use one or both residential NRBs which will require you to complete a IHT even if there is none to pay.

karen2013

Great thank you so much for your advice it is much appreciated