The following page on HMRC website sets out the requirements for an excepted estate:
To be an excepted estate there must be no IHT payable plus various other requirements the most significant of which in the present instance is that the value of the estate is below the current inheritance tax threshold ie £325,000.
Hi i dont think it is an excepted estate as the definition of ‘IHT Threhold’ does not include the RNRB, so you need to complete an IHT400 and IHT435.
Michelle
The gross value net of liabilities but not net of reliefs other than spouse and charity exemptions
I rang up the probate registry about this and they said just send it in no extra forms no reporting to HMRC so i put a note on the online application. Went off yesterday so I may have the answer by Christmas
I don’t want to alarm you Claire but I have been told incorrect advice by the Probate Registry re forms on at least one recent occasion which has led to months of delays, their staff are not remotely reliable.
Andrew.
I can well believe it. That’s why i did not bother to ring them today on an entirely unrelated matter, I will just have to see as it has gone now!
For everyone who is interested, it worked I got the grant back and did not have to send in any IHT forms
Claire, just for clarity, you had an estate where the net value was above £325,000 but below £500,000 and you submitted an online application without IHT400s and the Grant of Probate was issued?
That is correct and very pleased I was too when I got it
As I mentioned last year on this post, if you are relying on the RNRB to prevent IHT being payable i do not think the estate is excepted so an IHT400 and IHT435 are needed.
Obtaining a grant without filing them must involve stating the estate is excepted which i do not think it is
I agree. Just because Probate granted, does not mean correct procedure followed in my view.