Grant of probate on credit

Has anyone managed to obtain a grant of probate ‘on credit’ where there are no liquid assets in an estate and what steps did HMRC want or consider before allowing it to be done or on what grounds did they reject the application?

Claire Flood

I obtained one about 3 years ago in a case where the estate was relatively normal except for a very substantial holding in one public
company. We could not liquidate the holding without the grant and the bank was unwilling to lend the sum involved without some security or protection against the value of the holding falling, which we couldn’t provide. HMRC simply required an explanation of
the efforts made to raise the cash, payment of what we could pay, and an undertaking from the executors to try their best to pay the tax as soon as they could.

I started the process with a call to HMRC explaining that we wanted to apply for a grant on credit. I was then given contact details
of a technical support officer who dealt with it and was very helpful.

Diana Smart
Gordons LLP

Thank you for your help.

Kind regards,

Claire Flood

on behalf of