IHT Form and Income Tax

Dilbert_Investor

I’m completing the IHT forms for my late father.

I’ve a letter from the HRMC saying it may take them 8 weeks to calculate any tax due for the 23/24 tax year.

The forms are nearly completed, so do I need to wait 8 weeks for this number or can I submit with an estimate from the paperwork I have.  I’ve worked out he will owe about £200 in tax for that year.

Thanks.

Keep_pedalling

You can submit the IHT return with your estimated value. You will only need to do a correction if HMRCs calculation is different AND it impacts the amount of IHT due.

Dilbert_Investor

Thanks.  I have all the 2023/24 income numbers so think the estimate can be quite accurate.