No IHT to pay, do I have to notify anyone?

TisMeBill

My father recently passed away, I’ve registered the death, used Just Tell Us Once to inform government departments. I’ve also notified his private pension provider and they have confirmed his pension ends and there is no pay out to anyone because he has died.  At the time of his passing, he owned no property and his money was all with a single bank, who I have informed.

Because of all this, his estate was simple to value and is well below the IHT threshold, do I need to register in some way that I have done the calculations and there is no IHT to pay?

Keep_pedalling

Providing the amount in his bank account is below the bank’s probate limit the should pay out without the need to apply for probate. Which bank?

TisMeBill

Keep_pedalling said:

Providing the amount in his bank account is below the bank’s probate limit the should pay out without the need to apply for probate. Which bank?

When I closed his accounts, the lady I was dealing with at the bank (HSBC) said they probably would not ask for probate, regardless of if they do or don't, am I required to inform the tax office or anyone else that there is no IHT to pay?  

Keep_pedalling

HSBC are one of the few banks who do not have a set limit and decide on a case by case basis whether they need probate or not. If they do you will need to apply for probate, but in either case you don’t need to inform HMRC of anything.

https://www.gov.uk/government/collections/probate-forms

If they do require probate, it is quite simple to do and if there is anything you don’t understand just ask, there are plenty of regulars on here who can help.

DavidT67

TisMeBill said:

My father recently passed away, I’ve registered the death, used Just Tell Us Once to inform government departments. I’ve also notified his private pension provider and they have confirmed his pension ends and there is no pay out to anyone because he has died.  At the time of his passing, he owned no property and his money was all with a single bank, who I have informed.

Because of all this, his estate was simple to value and is well below the IHT threshold, do I need to register in some way that I have done the calculations and there is no IHT to pay?

You no longer need to inform HMRC of estates with no inheritance tax due.

You can use the GOV UK online calculator to confirm this outcome, and whether probate is require.  

Maybe save the result for your records.

https://www.gov.uk/valuing-estate-of-someone-who-died/estimate-estate-value