Tax Forms
IHT / Probate Forms
An Inland revenue form must always be completed regardless as to the size of the estate, even if no inheritance tax is payable. The rates of inheritance tax have increased over the course of the last 20 years with the current rate of £325,000 being introduced on the 6th April 2009. Full details of historic rates dating back to 1986 can be seen by clicking the link the attached link below :-
www.hmrc.gov.uk/rates/iht-thresholds.htm
When completing an IHT form the starting point is whether the estate is an excepted estate (free of inheritance tax)
or whether it is non- excepted estate which may well be subject to inheritance tax.
The IHT forms to complete?
An excepted estate will require the completion of an IHT 205 while a non-excepted estate will require a IHT 400 completing. An IHT form 421 must be completed as well when an IHT form 400 is completed ( known as an Estate Account ) the IHT 421 confirms the tax summary and must be sealed by the Inland Revenue confirming the payment of the Inheritance Tax due
Need helping completing an Inheritance Tax form ?
please call us on 0844 7400948
