Listed vs unlisted stocks for probate

justme8786

I think this forum will be better for this question given the context. I am currently filling out the IHT400 probate form for my deceased mum, it asks if she has any listed stocks and shares or unlisted stocks and shares and control holdings.

I don't know what these mean and google is not helping. She had a S&S ISA, a SIPP, both with various funds such as Vanguard FTSE World Index, iShares gold etc. , and a P2P Unbolted investment account. Which of the two categories would these be in?

masonic

The P2P holdings won't fall under either category as they are loan agreements. The others would be listed S&S holdings. See p32-33 of the guidance notes to see which fund types are included.

Keep_pedalling

You don’t need to worry about the SIPP it does not form part of her estate. 

As long as the S&S ISA is with one of the mainstream providers everything in it is going to fall under listed.

The P2P fails under neither, as it operates like a pawn broker. Your mother’s account will have investments in a number of secured loans for which she hopefully gets paid interest. AFAIK these go on the same form as savings accounts.

justme8786

masonic said:

The P2P holdings won't fall under either category as they are loan agreements. The others would be listed S&S holdings. See p32-33 of the guidance notes to see which fund types are included.

Thank you very much!!

justme8786

Keep_pedalling said:

You don’t need to worry about the SIPP it does not form part of her estate. 

As long as the S&S ISA is with one of the mainstream providers everything in it is going to fall under listed.

The P2P fails under neither, as it operates like a pawn broker. Your mother’s account will have investments in a number of secured loans for which she hopefully gets paid interest. AFAIK these go on the same form as savings accounts.

Thank you:) oh and I didn't know this would be in the savings! Much appreciated

poseidon1

justme8786 said:

I think this forum will be better for this question given the context. I am currently filling out the IHT400 probate form for my deceased mum, it asks if she has any listed stocks and shares or unlisted stocks and shares and control holdings.

I don't know what these mean and google is not helping. She had a S&S ISA, a SIPP, both with various funds such as Vanguard FTSE World Index, iShares gold etc. , and a P2P Unbolted investment account. Which of the two categories would these be in?

S & S ISA will be quoted. Ensure the platform gives you figures for accrued income at death ( if any) as well as the unit trust valuations

Individual investments  in the SIPP are not reportable. However the Sipp needs to be reported on the IHT 409 and you will need to get to grips with rules determing whether the Sipp value might form part of your mother's estate for IHT purposes. The Sipp provider may be able to assist. 

https://www.gov.uk/government/publications/inheritance-tax-pensions-iht409


P2P Unbolted  could  be an unquoted 'investment' or unsecured loan. I would be inclined to treat  as a loan requiring IHT 416 completion.  Given its high risk and lack of FCA protection  hope you don't have too much difficulty recouping your mother's investment. Appears recouping monies quickly might be a challenge with these entities.

https://unbolted.com/uk/investing/

justme8786

poseidon1 said:

justme8786 said:

I think this forum will be better for this question given the context. I am currently filling out the IHT400 probate form for my deceased mum, it asks if she has any listed stocks and shares or unlisted stocks and shares and control holdings.

I don't know what these mean and google is not helping. She had a S&S ISA, a SIPP, both with various funds such as Vanguard FTSE World Index, iShares gold etc. , and a P2P Unbolted investment account. Which of the two categories would these be in?

S & S ISA will be quoted. Ensure the platform gives you figures for accrued income at death ( if any) as well as the unit trust valuations

Individual investments  in the SIPP are not reportable. However the Sipp needs to be reported on the IHT 409 and you will need to get to grips with rules determing whether the Sipp value might form part of your mother's estate for IHT purposes. The Sipp provider may be able to assist. 

https://www.gov.uk/government/publications/inheritance-tax-pensions-iht409


P2P Unbolted  could  be an unquoted 'investment' or unsecured loan. I would be inclined to treat  as a loan requiring IHT 416 completion.  Given its high risk and lack of FCA protection  hope you don't have too much difficulty recouping your mother's investment. Appears recouping monies quickly might be a challenge with these entities.

https://unbolted.com/uk/investing/

Oh I didn't think about that P2P wise, okay will fill out IHT 416. At first I couldn't withdraw but the funds have been sitting there for 7 months and most of them are in cash now.

Thank you