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Where Taxpayers and Advisers Meet

Inheritance Tax and Probate

WoNkY
Posts:1
Joined:Fri May 29, 2020 9:41 am
Inheritance Tax and Probate

Postby WoNkY » Fri May 29, 2020 10:03 am

Good morning. My father passed away in March and I have contacted all of his financial providers and have all his details back now.
I would just like to check that I am going to proceed correctly applying for probate.

My father left a will leaving every jointly to my sister and myself.

My mother passed away 2 years ago and left everything to my father. So interpreting the online advice I can use my mothers Unused NRB for my fathers estate.

My fathers total estate comes to approximately £590,00 Including his home which has a value of approximately £130,000. The adjoining property is identical and was sold only last year for £135,000 and is in far better condition and has been extended too. The valuation I have taken from Zoopla and hope that this will be acceptable.

So, can I use form IHT205 along with form IHT217 given the total estate is less than £650,000.

Thank you for any advice.

maths
Posts:8507
Joined:Wed Aug 06, 2008 3:25 pm

Re: Inheritance Tax and Probate

Postby maths » Fri May 29, 2020 2:03 pm

Yes, it appears that father's estate qualifies as an "excepted estate" in which case IHT 205 (not IHT 400) is the correct form. As you say a claim for mother's transferred and unused NRB also needs filing.


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