Inheritance Tax payments prior to probate

[sigmund]

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]

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

[sigmund]

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]

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]

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]

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.