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Where Taxpayers and Advisers Meet

IHT435

Nick1412
Posts:10
Joined:Thu May 26, 2011 8:06 pm
IHT435

Postby Nick1412 » Sun Aug 18, 2019 3:07 pm

I am looking for help in completing the form IHT435.
The situation is as follows:
my father-in-law died on 2 April 2017 and a small part of his estate passed to his wife and the rest to his two daughters (including his half interest in the family home). My mother-in-law moved into a residential care home immediately after his death and the family home was sold in January 2018. My mother-in-law has died earlier this month and we are now trying to complete the necessary IHT forms. All of her estate is being passed on to her two daughters.
We have answered yes to Q1, the values in Q2&3, no to Q4, yes to Q13, £100,00 to Q14, yes to Q15, the address of the sold family home in Q16, the sale date in Q17, mother-in-laws half interest in Q18, yes to Q19, no to Q20.
Are the above answers correct?
What value do we put in Q21 - the house has been sold so all of the estate is "other assets"?
Any help will be gratefully received.

AGoodman
Posts:1745
Joined:Fri May 16, 2014 3:47 pm

Re: IHT435

Postby AGoodman » Tue Aug 20, 2019 10:56 am

Yes, assuming neither estate was over £2m.

q21 - can only think this means the entire estate (allowing for the fact that downsizing relief was probably shoehorned into the form as an afterthought).

Nick1412
Posts:10
Joined:Thu May 26, 2011 8:06 pm

Re: IHT435

Postby Nick1412 » Thu Aug 22, 2019 10:56 am

Thank you.
I will submit the form and see what happens.


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