C1 Form - Gifts within 7 years & property details

okno098

Hi,

I'm filling in the C1 form, as the IHT forms were not relevant (excepted estate). However, I'm not sure where to mention a gift made within 7 years. If I don't write it in the inventory, do I add it at the end of the inventory under 'total estate in Scotland' or do I just add it to box 11 'Gross value of estate'?

Also, when writing the house address in the inventory, do I need to mention details such as number of bedrooms and plot size? E.g 'A two bedroom dwelling house on a plot of 0.2 ha'. Or can I just put the address and valuation? I had it professionally valued and wondered if it would be okay to say 'valuation by Bell Ingram LLP'.

Thank you for any help.

buddy9

https://forums.moneysavingexpert.com/discussion/6657643/c1-form-gifts-within-7-years-property-details

Non-exempt gifts are only relevant for IHT. The value is added to the calculations for IHT on page 5 (box 23 on). The C1 form does not allow nor require an explanation where there is a difference between the value for Confirmation and the value for IHT.

The number of rooms in the house and plot size are not needed. An example might be

‘Semi-detached Dwelling house 27 Small Street, Renfrew PA3 5SA being the subjects described in the Land Register of Scotland under title number REN 0000

[Valued by BBB surveyors]or[valued by executor]’

This example assumes that the house is totally owned by the deceased. Are you certain about house ownership and the current ownership as stated in the title in the land register? It is not uncommon for house ownership to be misunderstood, or to be incorrectly assumed, or to still hold the name of a predeceased spouse (without a survivorship clause).

okno098

https://forums.moneysavingexpert.com/discussion/comment/81906232#Comment_81906232

Hi buddy9,

Thanks so much for your explanation. Regarding court fees, does this mean that the estate is the value for confirmation or for IHT? The gift within 7 years just tips the value of the estate to over 250k, meaning the fee goes from £341 to £684. But if it's based on the confirmation value then I can pay less.

Yes it's totally owned by the deceased, I have the deeds. Thanks for the heads up though.

buddy9

Fee is based on Confirmation value. Fees are increasing from 1 April.

okno098

https://forums.moneysavingexpert.com/discussion/comment/81906624#Comment_81906624

Thank you!