IHT400 Notes : Guide to completing your Inheritance Tax account

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When you must send us form IHT400 before doing anything else Which office to use 56 IHT400 Notes Form IHT421 Probate summary — England, Wales and Northern Ireland Form C1 Inventory — Scotland When you have filled in and signed all the forms Where do I get information about Probate? What if I want you to work out the tax for me? What happens when I get a grant? Guide to completing your Inheritance Tax account What to do after you have filled in form IHT400 If you are applying for a grant in England, Wales or Northern Ireland, fill in Schedule IHT421 Probate summary. It tells the Probate Registry what values you have included on form IHT400. The Probate Registry needs this information before it can issue a grant. Fill in Schedule IHT421 after you have filled in and signed form IHT400. If you are applying for a grant of confirmation in Scotland, fill in form C1 Inventory. The Sheriff’s Court needs the form before it can issue a grant. When you have filled in and signed form IHT400 and filled in any schedules, including Schedule IHT421 or form C1, use the checklist on page 14 of the IHT400 to make sure that you have got all the papers that you need to send to us. Then follow the notes on pages 56 to 62 that apply to you. There are two situations when form IHT400, all the completed schedules and any other supporting documents must be sent to us before you go any further. These are if: • you have answered question 6 on page 1 of the form to say that the deceased died domiciled outside the UK, or if the deceased was only treated as domiciled in the UK (if there is any tax to pay and you have calculated the tax yourself, please include your payment as well) • the grant is needed for land that was settled property before the deceased’s death and that remains settled property after the death. When you have applied for a grant, or if you need to send the forms to us before you can apply for the grant, you should send the papers to our Nottingham office. Phone the Probate and Inheritance Tax Helpline on 0845 30 20 900 for forms and advice on probate. There are different procedures to follow depending on whether you are applying for a grant in England and Wales, Northern Ireland, or Scotland. Please follow the steps on the flowchart, on pages 60, 61 or 62, that applies to you. When you have got the grant, it does not mean that you have paid all the Inheritance Tax and interest on the estate. If you sent us the form before the grant, we look at the details you have given and if there are no obvious errors, we will accept the tax that you have shown us is due.
IHT400 Notes The Inheritance Tax on the estate may change Provisional estimates You must tell us about other changes to the estate Guide to completing your Inheritance Tax account Once we have returned Schedule IHT421 Probate summary or form C1 Inventory we will look at form IHT400 in more detail. We may ask you questions to help us understand what you have said on the form and any schedules. We may discuss the value of any assets in the estate and question whether any debts are properly deducted. We will look carefully at any deduction for exemptions, reliefs and exclusions you have made. We may also send you statements that show you the tax and interest you must pay, particularly if you have said that you wish to pay some of the tax by instalments. If you have included provisional estimates in form IHT400 or on any of the schedules, it is your responsibility to tell us what the final figures are as soon as you know them. If the value of any assets or debt changes and as a result the amount of Inheritance Tax due changes you must tell us. You can help us by giving us our reference number, if you can. Otherwise tell us the full name and date of death of the deceased. 57
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Guide to completing your Inheritanc
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Contents Introduction IHT400 Notes
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IHT400 Notes Guide to completing yo
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A This guide will help you fill in
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A Legitim IHT400 Notes Under Scotti
Page 11 and 12: IHT400 Notes Delivering a reduced a
Page 13 and 14: Changes to the administration of an
Page 15 and 16: IHT400 Notes What values to include
Page 17 and 18: If the deceased was domiciled in Sc
Page 19 and 20: IHT400 Notes 31 32 36 Guide to comp
Page 25 and 26: Value of gifts Who pays the Inherit
Page 27 and 28: IHT400 Notes Gifts with reservation
Page 29 and 30: IHT400 Notes Gifts made as part of
Page 31 and 32: IHT400 Notes The other joint owner
Page 33 and 34: Registered or non-registered pensio
Page 35 and 36: IHT400 Notes Contributions to a pen
Page 37 and 38: IHT400 Notes Dividends and interest
Page 39 and 40: Traded unlisted stocks and shares U
Page 41 and 42: Rate of relief table IHT400 Notes G
Page 43 and 44: When is Agricultural Relief availab
Page 45 and 46: Agricultural Relief and lifetime tr
Page 47 and 48: IHT400 Notes What items qualify for
Page 49 and 50: Assets on which tax may or may not
Page 51 and 52: IHT400 Notes 55 56 57 62 Guide to c
Page 55 and 56: Deductions from the estate incurred
Page 57 and 58: Exemptions and reliefs, page 10 IHT
Page 59 and 60: IHT400 Notes Paying Inheritance Tax
Page 61: Declaration, page 12 IHT400 Notes 1
Page 65 and 66: IHT400 Notes Applying for a grant i
Page 67 and 68: IHT400 Notes Applying for a grant i
Page 69 and 70: Payment in advance Electronic trans
Page 71 and 72: What value to use Estimating a valu
Page 73 and 74: Stock Exchange markings National Sa
Page 75 and 76: IHT400 Notes Guide to completing yo
Page 77 and 78: Lloyd's Underwriters Valuing money
Page 79 and 80: Qualifying charities Gifts for nati
Page 83 and 84: IHT400 feedback form 1 How much of
Page 85 and 86: IHT400 Notes DX addresses have been
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