IHT404 and IHT405

lake888

If the deceased only has a jointly owned property, I understand I have to complete IHT404. However do I need to complete IHT405 as well? Will it cause duplication when entering the figure on IHT400?

poseidon1

https://forums.moneysavingexpert.com/discussion/6665191/iht404-and-iht405

Again, the preamble notes to IHT 404 makes it clear IHT405 required as well.

lake888

Then in IHT405, column 6H Open market value at the date of death - should I put in the whole value, not 50% as it is jointly owned?

lake888

https://forums.moneysavingexpert.com/discussion/comment/81972396#Comment_81972396

Sorry to return to this topic again as I was struggling. IHT400 Box 51 saying Deceased’s residence (except farmhouses and jointly owned houses) (Schedule IHT405, box 7). Include the value of jointly owned houses at box 49 and farmhouses at box 68 instead. Have you considered residence nil rate band? Should I put 0 in Box 51 as jointly owned house value has been put in Box 49? Thanks.