Doing my mother-in-law probate.
She has actually received £600 in savings interest during the period of administration, but £200 of that was accrued but not paid before her date of death. She would not have paid any tax on that money anyway because she died in June and it would be covered by her personal allowance for that year. In terms of IHT reporting I used the balance of the account including the accrued interest.
I think it is reasonable to deduct the £200 from the actual payment so that the amount arising in the admin period is only £400 so tax is £80 so no informal return required to HMRC.
Does anyone know if HMRC would agree with this treatment.
Grateful for any help particularly from practitioners.
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