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Where Taxpayers and Advisers Meet

Inheritance Tax payments prior to probate

sigmund
Posts: 59
Joined: Mon Nov 02, 2009 10:03 pm

Inheritance Tax payments prior to probate

Postby sigmund » Mon Apr 22, 2019 10:25 pm

As the executor of a will seeking probate, can I access NS&I Index Linked Certificates, held by the deceased, in order to pay the inheritance due prior to the grant of probate?

Jholm
Posts: 57
Joined: Mon Mar 11, 2019 4:22 pm

Re: Inheritance Tax payments prior to probate

Postby Jholm » Tue Apr 23, 2019 4:21 pm

Interesting read: https://www.ft.com/content/9e707b12-a026-11e6-86d5-4e36b35c3550

sigmund
Posts: 59
Joined: Mon Nov 02, 2009 10:03 pm

Re: Inheritance Tax payments prior to probate

Postby sigmund » Tue Apr 23, 2019 8:23 pm

Unfortunately the url does not help. It merely takes one to the FT subscription page.

I seem to remember that at one stage national savings accounts could be used to pay the inheritance tax due prior to probate in order to obtain probate but I can not find any confirmation. Can anyone help please?

AGoodman
Posts: 774
Joined: Fri May 16, 2014 3:47 pm

Re: Inheritance Tax payments prior to probate

Postby AGoodman » Wed Apr 24, 2019 10:58 am

It looks like they will pay it but not as part of the Direct Payment Scheme. You may need to obtain an HMRC statement first.

https://www.nsandi.com/system/files/asset/pdf/death-claims-brochure.pdf

someone
Posts: 360
Joined: Mon Feb 13, 2017 10:09 am

Re: Inheritance Tax payments prior to probate

Postby someone » Wed Apr 24, 2019 1:22 pm

Unrelated to your question but I believe these certificates can be inherited. As they are no longer available to buy, if I were a beneficiary I'd prefer to inherit them rather than get the cash - and I'd probably be willing to fund the IHT in order to avoid at least some of my share from being cashed in.

sigmund
Posts: 59
Joined: Mon Nov 02, 2009 10:03 pm

Re: Inheritance Tax payments prior to probate

Postby sigmund » Wed Apr 24, 2019 8:20 pm

Thank you AGoodman. It is not terribly clear from the pfd leaflet, but as you say it looks as if a statement from HMRC is needed first. It was my original understanding that the IHT could be paid direct from NS&I to HMRC but I could not find the reference.


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