Do you need assistance completing an IHT205?
When someone passes away there is a significant amount of paperwork that may be required. One such form is the IHT205. If you don’t complete the necessary forms in time, there may be a penalty.
Our specialist team of Probate Lawyers can assist you in completing the form or complete the form on your behalf. Our Derbyshire based team of solicitors have years of experience in dealing with inheritance tax forms and can help you avoid any issues in the future.
What is an IHT205?
The IHT205 is an inheritance tax form called the “return of estate information”. A copy of the form or details how to complete it can be found on the government’s website. The details can be found here.
The form records the detailed of the person who has died also called “the deceased”. It also records what the person owned at the date of their death and whether they made any substantial gifts prior to their death.
This is used by the probate registry to confirm whether any inheritance tax due on the estate.
Do I need to use the IHT205?
A personal representative may need to complete this form when a person has died after 6th April 2011. The form does not apply to anyone who has had a permanent home in the UK at the date of their death.
The form should be used when gross value of the estate for inheritance tax (everything which the deceased owned or should be included for the purposes of the inheritance tax calculation):
- is less than the excepted estate limit
- is less than twice the excepted estate limit and the form IHT217 is used to claim a transfer of an unused nil rate bank for excepted estates is used
- or is less than £1 million and there is no inheritance tax to pay because of spouse, civil partner or charity exemption.
Do I need a solicitor to help?
It can be quite complicated to confirm firstly what forms part of the deceased estate and which does not. Secondly, you need to ensure that you complete the right forms to accompany the IHT205.
The government has released some guidance notes on how to complete the form a copy of which can be found here.
Whilst you may not need us to help complete the form, we can help answer any questions you have about the form. We can also confirm that you are completing the form correctly.
Alternatively, we can complete the form on your behalf and file it with the probate registry. Our specialist Probate Solicitors can help by easing the burden and help make a difficult time a bit easier.
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