IHT and additional information

JoSoap02

I have submitted form IHT400 but have not included a tax rebate as the value hasn't yet been notified.
When this is advised am I supposed to tell IHT so they can ask me for more money ?
We are likely to have applied for probate by then so the figures will change. You have to state the IHT figures on the probate forms.
Does it matter  ?

Savvy_Sue

Are you definitely in IHT territory? If not, no need to do anything 

JoSoap02

Yes, just sent off IHT forms and given the deceased's bank authority to take paynent for IHT due

JoSoap02

But know there is a tax refund due (in up to 8 weeks time so didn't want to wait all that time as need to get probate

Keep_pedalling

JoSoap02 said:

But know there is a tax refund due (in up to 8 weeks time so didn't want to wait all that time as need to get probate

You don’t need to wait you can submit an IHT correction form later.

https://assets.publishing.service.gov.uk/media/67935298a0bd2a64fc27fc5a/c4_corrective_account_print_and_post_form.pdf

JoSoap02

Thank you. Do you know why box 9 and box 12 have 0.00 values preprinted on this form  ?

CalvinHobs

JoSoap02 said:

Thank you. Do you know why box 9 and box 12 have 0.00 values preprinted on this form  ?

Boxes 9 and 12 are calculated fields: If you complete the forms on a computer then Box 9 automatically totals the increase to the value of the estate from the figures you enter in the earlier boxes. Box 12 does the same for any decreases to the value of the estate.

I completed a C4 for an increase on my laptop and box 9 totalled the increase correctly. There was no decrease so box 12 remained as 0.00. Of course, once completed, I still had to print out the form as it requires a "wet signature".

If you are completing the form with a pen then, in box 9, I suggest you simply strike through the 0.00 and write the value to the left of it - the box looks wide enough for this.

AFAIK, the only way to remove the 0.00 from those boxes would be to use PDF editing software such as Adobe Acrobat Pro.

JoSoap02

CalvinHobs said:

JoSoap02 said:

Thank you. Do you know why box 9 and box 12 have 0.00 values preprinted on this form  ?

Boxes 9 and 12 are calculated fields: If you complete the forms on a computer then Box 9 automatically totals the increase to the value of the estate from the figures you enter in the earlier boxes. Box 12 does the same for any decreases to the value of the estate.

I completed a C4 for an increase on my laptop and box 9 totalled the increase correctly. There was no decrease so box 12 remained as 0.00. Of course, once completed, I still had to print out the form as it requires a "wet signature".

If you are completing the form with a pen then, in box 9, I suggest you simply strike through the 0.00 and write the value to the left of it - the box looks wide enough for this.

AFAIK, the only way to remove the 0.00 from those boxes would be to use PDF editing software such as Adobe Acrobat Pro.

Thank you for this - I had printed out the form. I get it now.

JoSoap02

What happens if you find out you have overcalculated a liability on IHT400 (such as overpaid state pension to pay back to DWP) and therefore owe more IHT than you have already paid and you don't get the true figure until after you have applied for probate ?

Keep_pedalling

JoSoap02 said:

What happens if you find out you have overcalculated a liability on IHT400 (such as overpaid state pension to pay back to DWP) and therefore owe more IHT than you have already paid and you don't get the true figure until after you have applied for probate ?

You can report both under and over estimates on C4.

JoSoap02

Even after probate  ?