IHT Allowances and forms required for probate

plumptonred

The scenario I have is fairly straight forward I hope. My father passed away late last year and everything was left to my mother, including the house. Probate wasn't applied for. My mother has now recently died and the will leaves everything equally divided between the children, including the house.

The house is worth around £335k and the other assets around £45k.

From my existing research it seems the maximum allowance from IHT is £1M : 2 x (£325k + £175K). The additional £175k because the house is left to direct descendants. So fortunately no IHT is due.

My question is what (if any) forms need to be completed in support of the application for probate. Is the will proof enough for getting the extra £175k allowance? If not is there a form that needs to be completed?

Does this mean that as the doubling up of allowance from my father's estate is not needed to avoid IHT, can it be ignored or would the probate office expect us to claim for it anyway because, for example, this has a higher priority? 

Any advice on this would be much appreciated.  Thanks


  

Keep_pedalling

To claim either RNRBs you will need to do a full IHT return using IHT 400 plus various supplementary sheets including IHT 435 & 436. The full least you need will depend on what other assets your mother held. If you look through the IHT 400 form it tells you which supplementary sheets you will need. You can’t apply for probate until 20 working days after you have submitted the IHT return.

buddy9

If mother and father were married (or CP), the estate comprises £380k in total, and transferable NRB is available, surely this is an excepted estate and an HMRC return (IHT 400) is not required.

Keep_pedalling

buddy9 said:

If mother and father were married (or CP), the estate comprises £380k in total, and transferable NRB is available, surely this is an excepted estate and an HMRC return (IHT 400) is not required.

You are quite correct, I miss read the other assets as £450k (what a plonker). So no IHT return required and claim the transferable NRB not the RNRB, unless the OPs mother and father were not married or in a civil partnership. 

Confused_2024

Another Q..

If the house first passes entirely to mum after dad's death, then it passes fully to me on her death, does that mean None of the transferable RNRB was used on the house passing to my mum, so I enter No to Q6 on form IHT436 and then none of the RNRB is used on her passing the house to me, so I enter Yes to Q13 on form IHT435 and enter the amount as 175k for Q14?

And if this is correct, does this cover me claiming for both lots of 175k RNRB? Are there any other Qs that I need to make sure to complete on either form to ensure that I'm claiming 2x175k at the end?

Thanks again in advance!

Confused_2024

Apologies for the above, I thought I was posting on my own current thread. I'll copy this there...