IHT - If you have not heard from us by ...

MM_IHT

Hi
Ive received the IHT unique code back and applied for Probate and received that and am now sending of to the various companies.

One question on the IHT letter it says 

" If you have not head from us by 11 June 2025, it means we have no questions t as about the information on the form IHT400"

Is this standard wording on all letters?  And would you hold off paying the beneficiaries until that date has passed?

Most of the information on the form was confirmed valuations by banks etc of the amounts, The house was valued by estate agents (2) and halved with 10% deducted (this was confirmed by IHT helpline, nominal value for belongings - nothing of value just contents of house.  No additional discounts on IHT over the standard £325k

Thanks in advance for any responses

AP3

You should hold off until that date. Have a read here: https://www.step.org/industry-news/uk-hmrc-commits-firm-deadlines-iht400-compliance-checks

kipperman

I had exactly the same wording - presumably it is a standard number of weeks from when they issued the letter. As regards distribution, the residual beneficiaries are myself and my two siblings ( all three executors as well), all of whom get on fine. All pecuniary beneficiaries are now paid, as well as any estate debts.   I am happy to distribute as and when money comes in with all of us understanding that as executors that if HMRC did demand more, as jointly liable we would need to pay.  Not least because I am using an "ordinary" account as an executors account, and don't want to have >£85000 in the account for any extended amount of time.

GrumpyDil

There does appear to be a temporary extension of the 85k limit when you are administering an estate.

https://www.fscs.org.uk/making-a-claim/claims-process/temporary-high-balances/