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    • Dymphna60
    • By Dymphna60 14th Sep 18, 6:29 PM
    • 9Posts
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    Dymphna60
    Looking at IHT400 in more detail
    • #1
    • 14th Sep 18, 6:29 PM
    Looking at IHT400 in more detail 14th Sep 18 at 6:29 PM
    Completed IHT400 together with co executor. No solicitor.
    Letter this afternoon says form IHT421 has been sent to the probate registry so you can get your grant .
    Also says we will now look at your form IHT 400 in more detail.
    This is making me so anxious.
    I got Chartered property surveyor report for property . Read the exact words to him . Full market value for inheritance tax ect .
    Told no lies . Overestimate if anything. Included every bit of information I could .
    It was my partner ( but not under the law ) that died .
    What are they looking at and why.
    I feel like a criminal .
    Already so anxious since he died . Inquest to go to in a couple of weeks.
    Do many people get this letter?
Page 1
    • Yorkshireman99
    • By Yorkshireman99 14th Sep 18, 6:41 PM
    • 4,494 Posts
    • 3,716 Thanks
    Yorkshireman99
    • #2
    • 14th Sep 18, 6:41 PM
    • #2
    • 14th Sep 18, 6:41 PM
    Completed IHT400 together with co executor. No solicitor.
    Letter this afternoon says form IHT421 has been sent to the probate registry so you can get your grant .
    Also says we will now look at your form IHT 400 in more detail.
    This is making me so anxious.
    I got Chartered property surveyor report for property . Read the exact words to him . Full market value for inheritance tax ect .
    Told no lies . Overestimate if anything. Included every bit of information I could .
    It was my partner ( but not under the law ) that died .
    What are they looking at and why.
    I feel like a criminal .
    Already so anxious since he died . Inquest to go to in a couple of weeks.
    Do many people get this letter?
    Originally posted by Dymphna60
    It is fairly standard. HMR&C have an obligation to check the application to see that any errors or omissions are spotted so that the correct amount of IHT, if any, is paid. It is not a quick process. Not all are examined in great detail but those close to the borderline where IHT is payable than those well below.
    • Dymphna60
    • By Dymphna60 14th Sep 18, 6:48 PM
    • 9 Posts
    • 1 Thanks
    Dymphna60
    • #3
    • 14th Sep 18, 6:48 PM
    • #3
    • 14th Sep 18, 6:48 PM
    Inheritance tax calculated and paid .
    Have slightly overpaid if they accept all the information and valuations.
    Wondered if anyone knew what percentage are looked at as timeline suggests that not all are looked at in more detail.
    • Yorkshireman99
    • By Yorkshireman99 14th Sep 18, 8:07 PM
    • 4,494 Posts
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    Yorkshireman99
    • #4
    • 14th Sep 18, 8:07 PM
    • #4
    • 14th Sep 18, 8:07 PM
    Inheritance tax calculated and paid .
    Have slightly overpaid if they accept all the information and valuations.
    Wondered if anyone knew what percentage are looked at as timeline suggests that not all are looked at in more detail.
    Originally posted by Dymphna60
    Impossible to say. HMR&C have their own rules but I doubt anyone outside really knows.
    • getmore4less
    • By getmore4less 14th Sep 18, 9:55 PM
    • 33,043 Posts
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    getmore4less
    • #5
    • 14th Sep 18, 9:55 PM
    • #5
    • 14th Sep 18, 9:55 PM
    If they have given the OK for the grant they must think it is broadly OK after a once over.

    Once you have the grant you can get on with the job.
    If any estimates are off you can update HMRC when ready.
    • Tom99
    • By Tom99 15th Sep 18, 5:55 AM
    • 2,614 Posts
    • 1,785 Thanks
    Tom99
    • #6
    • 15th Sep 18, 5:55 AM
    • #6
    • 15th Sep 18, 5:55 AM
    Sounds like you got a bog standard letter so I would not get wound up about it.
    Expect them to take several/many months to give you a clearance letter to say no further enquiries will be made.
    Its not essential, but since you say you think you have paid all IHT due you could send them a IHT30 Application For Clearance Certificate. It may jog them along a bit and will give you something to chase up on the phone.
    If there is a house or other valuable asset which you subsequently sell for more than the probate value you have returned, then hang on to at least 40% of the excess in the estate until you have the all clear the original figures have been agreed.
    • Dymphna60
    • By Dymphna60 15th Sep 18, 11:14 AM
    • 9 Posts
    • 1 Thanks
    Dymphna60
    • #7
    • 15th Sep 18, 11:14 AM
    • #7
    • 15th Sep 18, 11:14 AM
    Thanks . Suppose I hoped others that had same worded letter would tell me what happened with them . I am well aware that what happens to one person is not what would happen to another. As I said I am just really anxious because itís the way I am . Not helped by the circumstances of my partners death .
    I have read everything official I can find on IHT . I know from April HMRC have improved their timeline so a date is included after which if I have heard nothing else I can conclude they are happy with matters.
    On a slightly different matter on reading the current notes for agents on completing IHT400. (I am not an agent but I read everything) it says solicitors should advise their clients on whole life financial records as HMRC may want 25 years . I have twice made wills and once consulted on another financial matter without this being mentioned. Anyoneís solicitor talked to them ? This is ordinary not rich people .
    • Yorkshireman99
    • By Yorkshireman99 15th Sep 18, 11:37 AM
    • 4,494 Posts
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    Yorkshireman99
    • #8
    • 15th Sep 18, 11:37 AM
    • #8
    • 15th Sep 18, 11:37 AM
    Thanks . Suppose I hoped others that had same worded letter would tell me what happened with them . I am well aware that what happens to one person is not what would happen to another. As I said I am just really anxious because itís the way I am . Not helped by the circumstances of my partners death .
    I have read everything official I can find on IHT . I know from April HMRC have improved their timeline so a date is included after which if I have heard nothing else I can conclude they are happy with matters.
    On a slightly different matter on reading the current notes for agents on completing IHT400. (I am not an agent but I read everything) it says solicitors should advise their clients on whole life financial records as HMRC may want 25 years . I have twice made wills and once consulted on another financial matter without this being mentioned. Anyoneís solicitor talked to them ? This is ordinary not rich people .
    Originally posted by Dymphna60
    25 years?!! Few people could do that an seven is usually the time records have to be kept,
    • Dymphna60
    • By Dymphna60 15th Sep 18, 11:52 AM
    • 9 Posts
    • 1 Thanks
    Dymphna60
    • #9
    • 15th Sep 18, 11:52 AM
    • #9
    • 15th Sep 18, 11:52 AM
    25 years if HMRC ever want to do a full tax investigation on you .
    Like most people my tax affairs are simple . Paye . A couple of bank accounts so unlikely to happen.
    • Yorkshireman99
    • By Yorkshireman99 15th Sep 18, 11:55 AM
    • 4,494 Posts
    • 3,716 Thanks
    Yorkshireman99
    25 years if HMRC ever want to do a full tax investigation on you .
    Like most people my tax affairs are simple . Paye . A couple of bank accounts so unlikely to happen.
    Originally posted by Dymphna60
    It would be interesting to know how they would do that as the banks don't keep records that old nor do most companies.
    • AnotherJoe
    • By AnotherJoe 15th Sep 18, 11:25 PM
    • 10,557 Posts
    • 12,071 Thanks
    AnotherJoe
    Or people. DWP asked me to go back to 2003, 2010 eg just over the 7 years was the best I could do. They can ask but would seem to be ona hiding to nothing and getting worse as the new data protection rules actively encourage institutions to remove data after 7 years, rather than just leaving it for random periods as they used to.
    I would, think in OPs case there's some idiotic reason they investigating this be it a one in ten audit or a mindless look at something such as Op seem very rich but that's because value of a house is taken into account when it wasnt when income tax was being paid.
    Let us know how it works out OP and my commiserations.
    • Dymphna60
    • By Dymphna60 16th Sep 18, 7:31 AM
    • 9 Posts
    • 1 Thanks
    Dymphna60
    Another joe thanks
    When I know I will post the outcome.The thing is the tax calculation was exactly right on the amounts and valuations given . Overpayment due to Halifax.
    So therefore HMRC know why and what they are looking at when they send the letter to say we will now look more closely at your IHT400 but they choose to take up to 12 weeks to tell me . More weeks after that if the want to send an assessor for example.
    Yes I understand thatís what HMRC are like . They have the power. However this isnít did you pay enough VAT on those shoes ? This tax is being paid because someone you loved has died .
    To be clear this is a £500000 estate . Mainly a house Not millionaires.
    • AnotherJoe
    • By AnotherJoe 16th Sep 18, 9:41 AM
    • 10,557 Posts
    • 12,071 Thanks
    AnotherJoe
    Yes I understand that’s what HMRC are like . They have the power. However this isn’t did you pay enough VAT on those shoes ? This tax is being paid because someone you loved has died .
    To be clear this is a £500000 estate . Mainly a house Not millionaires.
    Originally posted by Dymphna60
    I had very similar from DWP regards my mums estate, just reading the letter at face value you'd think she had millions stashed away and had been lying to them for the past 15 years about her wealth and I was about to distribute her ill gotten gains to one and all. . Whereas the reality was totally at odds with that.
    Hopefully it will work out quickly and OK and it's just the letter makes it sound worse than it is.
    Last edited by AnotherJoe; 16-09-2018 at 10:28 PM. Reason: typo
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