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Where Taxpayers and Advisers Meet

Transfer of Unused Nil Rate Band

sigmund
Posts: 76
Joined: Mon Nov 02, 2009 10:03 pm

Transfer of Unused Nil Rate Band

Postby sigmund » Tue Sep 15, 2020 3:28 pm

I would be most grateful if anyone can help me with the following question, as I am unable to find an answer in the HMRC IHT guides.

My wife recently died and, as I was her sole beneficiary, her estate passed to me free of IHT. However, during the seven years before her death, she had made a number of PETs and gifts out of income and on her death I had to complete IHT400 and some of the schedules for HMRC. HMRC eventually sent IHT421 (Probate summary) to the probate office and I have now received Grant of Probate.

I understand that in the event of my death my executors will be able to have any of my wife’s unused nil rate band transferred to the benefit of my estate by completing form IHT402 (Claim to transfer unused nil rate band). However, how can I find out how much HMRC agrees that her unused nil rate band amounts to, so that I can pass that figure on to my executors?

AGoodman
Posts: 1075
Joined: Fri May 16, 2014 3:47 pm

Re: Transfer of Unused Nil Rate Band

Postby AGoodman » Tue Sep 15, 2020 4:29 pm

Unless HMRC disputes the figures you included in the IHT400 (which is unlikely unless there is something potentially contentious), they can be taken as read. Your own executors could use your late wife's IHT400 as reference when it comes to your own estate.

sigmund
Posts: 76
Joined: Mon Nov 02, 2009 10:03 pm

Re: Transfer of Unused Nil Rate Band

Postby sigmund » Tue Sep 15, 2020 6:38 pm

Thank you very much. I have not received any objections from HMRC. I was just concerned if there were any problems with the gifts from income although I provided full details and supporting correspondence.


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