IHT250 Amendment

[Chrisl007]

Hi All,

I am struggling to understand what i need to do to amend the IHT250 and hope for some help here.

A little background:
Originally IHT250 was submitted with the estate value of £320k just under the limit for paying IHT.
A few months later I believe i have undervalued the house and it is probably worth £20-£30k more than originally thought and therefore I need to send an update to HMRC.
Whilst looking into this i have also noticed that there is a new 'main residence allowance' of a further £100k in 17/18 so even though the value now goes over £325k slightly it will still be exempt from IHT.

I am getting confused what form is needed for the amendment.
I have seen form C4 however this says its only used when you are amending the amount of tax due which is not the case as the estate will remain tax free so i assume this wouldn't be used.

Also do i need to inform the land registry as the Land Registry completion of registration statement shows the value as £320k so does this get amended automatically or does it get left and is it just HMRC that need to be informed?

Any help would be appreciated.

[Lee Young]

To be honest, unless the increase results in any tax I wouldn't bother to make a correction. But if you want to then send a letter to HMRC detailing the changes.