Checking if this counts as an excepted estate and just the PA1P is suffcient

bob_a_builder

I'm dealing with the probate for my late MIL who was the last survivor of the marriage
When FIL died 2y ago everything passed to MIL 
MIL Will passes everthing to 2 decendants

Current numbers are
House value : 420K
Cash value : 87k
house contents: 2k - if that, just a guess
funeral expenses : 2.6k    - had a prepaid  funeral, plan, this number is extras on top of that

420 + 87 + 2 - 2.6 = 506.4  So 6.4K over the (325+175) normal allowance 
But taking in to account the unused allowances from FIL removes any need to pay tax on that 6.4k ?

So am I correct in thinking that there is no IHT to pay ?
Will just a PA1P form be sufficent to apply for probate ?

Keep_pedalling

That is correct, no IHT to pay. The transferable NRB from her husband can be claimed on the probate form. Her residential NRB is not required, if it was then a full IHT return would be needed. 

bob_a_builder

Thanks 

Don't recall this bit from last time, The PA1P 1st page checklist requires an
" Inhertitance Tax summary : You must estimate the estate values etc etc "

But there is no specific form listed ?
So just a short written summary as per my 1st post will sufice,  or is more info required ?

What about IHT 205 ?

Keep_pedalling

No specific form to fill in, IHT205 is now obsolete. 

Probate and IHT valuations can be different, for example if your mother had made a non exempt gift of £50k in the  7 years before she died that would be included in the IHT valuation but not the probate valuation. 

bob_a_builder

But they want something showing your workings out, more than the entries in the section 7.3 & 7.5 boxes ?

Keep_pedalling

bob_a_builder said:

But they want something showing your workings out, more than the entries in the section 7.3 & 7.5 boxes ?

You don’t need to provide anything other than asked for in section 7. You can use the IHT checker to work out the values for 7.3 but you don’t have to give the data you put in that just the 3 results.