Deed of Variation and IHT400

Trusts Discussion
1

Good afternoon all,

I wonder if anyone would kindly let me have their thoughts on the following: -

An estate that I am dealing with had IHT liability as the deceased gave several properties to her children. We have completed a Deed of Variation and redirected one of the properties to the surviving spouse. This has brought the estate under the threshold now and therefore, no IHT is payable.

Do I still need to file IHT400 and enclose the Deed of Variation? If so, will I be required to wait for the unique code before I can submit the application?

Thank you in advance

With kindest regards

Carmen

2

I’d suggest not. When you file the probate online you can claim an “excepted estate”.

EE = its value is below the current Inheritance Tax thresholds.

You do not then need to file IHT400.

Richard C. Bishop