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.
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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.
The IHT205 is an inheritance tax form called the “return of estate information”. A copy of the form or details on 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.
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):
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.
Lovedays Solicitors, Potter and Co Solicitors and Andrew Macbeth Cash and Co Solicitors are the trading names of Derbyshire Legal Services Limited (Company Registration Number 08838592) whose registered office is at Lovedays Solicitors, Crown Chambers, 6 Bank Road, Matlock, Derbyshire, DE4 3AQ.
The Directors of Derbyshire Legal Services Limited are C.D.Gale and R.LL.Roberts. The Company is otherwise authorised and regulated by the Solicitors Regulation Authority whose rules can be accessed at www.sra.org.uk