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Excepted Estate reporting estate value with no IHT to pay
NanookOfTheNorth
Posts: 108 Forumite
Hi
I'm helping to sort out probate where there is no IHT to pay as everything passes from the deceased to their spouse (below the thresholds etc). On the probate online page I have entered the estate value from the IHT calculator tool, but on the page below it it says "If you apply for probate for an excepted estate, you’ll need to report its estimated value even though there’s no Inheritance Tax to pay" but I dont see any links to do that. Is that via the probate application that I've already specified the estate value or via a HMRC link somewhere as a seperate "application"?
Probate is needed due to transfer of house to spouse. The online probate form has not yet been submitted.
Thanks
0
Comments
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There is nothing else to submit other than the probate application you don’t have to report any values to HMRC in these cases.
Just checking - was the family owned solely be the deceased?0 -
Thanks Keep_pedalling. The mortgage was in the sole name of the deceased (which has nothing outstanding other than a token amount for the building society to keep the deeds safe, and will be waived so no need to pay) so we are assuming the family home is solely owned by the deceased (it would be that or with his spouse), until we can get the deeds we're unable to confirm if back in the 1970's when purchased if it was in the sole name of the deceased or with the deceased and his spouse.0
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Have you checked the land registry to see if it is registered there? If it is you don’t need the paper copies and can get the ownership details without any wait (costs £7)If it is not registered you are going have to do a first registration once you have the paperwork.0
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Yes I had checked that but it says there are no details. Thanks for the info.0
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