Inheritance Tax and Residence Nil Rate Band. Do we need to complete IHT400?

vonsworld

We have an estate which is worth £450,000 and would like to claim the Residence Nil Rate Band. This means the threshold is raised to £500k and there will be no IHT to pay.

Therefore is this regarded as an excepted estate and can we just enter the values on our online probate application?

Or do we still have to make a full return to HMRC using firms iht400 and iht435?

I have searched online but only found conflicting opinions on the answer to this question.

Thanks for your feedback.

Keep_pedalling

If you claim the RNRB you have to do an IHT return. 

If the deceased was widowed then you can probably avoid this by claiming the transferable NRB instead.