Probate and Inheritance Tax - What forms required

Guy1960

Mother passed away 2011, Father recently 1/25

House will be left to myself (Son) and sister

Estate will be around £750000 which includes £30000 gifts and £20000 in bank

Is this regarded as exempt estate (Mums unused £325000 plus Dads £325000 plus Dads £175000 = £825000) which excedes value of estate

What forms if any will be required to become exempt from IHT

Assistance would be appreciated

For the purposes of applying for probate online I ticked box saying no forms required   



   

poppystar

Since you want to use one of the residential NRBs you will need to complete a full IHT return before you apply for probate. It is not an excepted estate because the total value is over the £650k limit. 

Guy1960

poppystar said:

Since you want to use one of the residential NRBs you will need to complete a full IHT return before you apply for probate. It is not an excepted estate because the total value is over the £650k limit. 

Have unfortunately completed application  and sent will to Probate office .  Assuming they will come back and advise we need to start process again ?

Keep_pedalling

If you look through IHT 400 it should tell you exactly what supplementary sheets you are going to need to complete.

You will have to complete the IHT return before you can apply for probate.

Guy1960

Well it seems that probate has been granted !!