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Where Taxpayers and Advisers Meet

IHT404 Jointly owned assets

dominoman
Posts:60
Joined:Fri Jan 15, 2016 6:41 pm
IHT404 Jointly owned assets

Postby dominoman » Sat Jun 20, 2020 12:21 pm

I'm an executor for my late father.

He lived with his partner for 20 years until the date of death but they were not married. Most of the things in the house (washing machine, sofa etc) were paid for by him but were considered jointly owned. There's nothing of any real value. Do I need to enter all those on IHT404, or should they be on IHT407 because he paid for them (well he probably did - his partner doesnt remember)?

How careful do we have to be to list everything? For example, a 10 year old washer-dryer really has no value. Do I need to list it anyway?

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