IHT400 Pensions

Scale_Rule

Hello,
Can someone please explain why I have to list the pension amount in box 56 of IHT400? I put it in and it adds it to the value of the estate but pensions are outside of IHT to the best of my knowledge.  Should I then list them in the Exemptions and Relief section? Thanks.

HappyHarry

Scale_Rule said:

Hello,
Can someone please explain why I have to list the pension amount in box 56 of IHT400? I put it in and it adds it to the value of the estate but pensions are outside of IHT to the best of my knowledge.  Should I then list them in the Exemptions and Relief section? Thanks.

Generally pensions are not included in the estate except under unusual circumstances. Are you certain that you have completed form IHT409 correctly?

Marcon

HappyHarry said:

Scale_Rule said:

Hello,
Can someone please explain why I have to list the pension amount in box 56 of IHT400? I put it in and it adds it to the value of the estate but pensions are outside of IHT to the best of my knowledge.  Should I then list them in the Exemptions and Relief section? Thanks.

Generally pensions are not included in the estate except under unusual circumstances. Are you certain that you have completed form IHT409 correctly?

...or could it be that these are amounts actually due to the deceased at the time of their death?

Any money that was due to the deceased from a pension scheme, either as a lump sum or arrears payable up to the date they died will be included in box 56 of the IHT400. Source: https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm10063

Keep_pedalling

HappyHarry said:

Scale_Rule said:

Hello,
Can someone please explain why I have to list the pension amount in box 56 of IHT400? I put it in and it adds it to the value of the estate but pensions are outside of IHT to the best of my knowledge.  Should I then list them in the Exemptions and Relief section? Thanks.

Generally pensions are not included in the estate except under unusual circumstances. Are you certain that you have completed form IHT409 correctly?

This^^ The vast percentage of pensions will produce a zero value for this box if you fill in IHT 409 correctly. 

Scale_Rule

Thanks both, that's cleared it up.