Hello – please can you advise on whether an estate can be deemed as an excepted estate, with no requirement to inform HMRC before applying for probate, when the total value exceeds the nil rate (in this case £375k) but the entire estate has been bequeathed to an adult daughter of the deceased (and therefore the increased threshold of £500k applies).
Thanks for your reply Neil. I am happy to apply for probate but I just wasn’t sure whether I needed to obtain form IHT400 first, or whether as an excepted estate the form wasn’t necessary.
Hi – please can you advise as to whether we can apply directly for probate or whether we need to first obtain any relevant form from HMRC.
The deceased passed away on 27th April 2024. Her entire estate was worth c. £375k. This obviously exceeds the inheritance tax threshold, but as the entire estate was left in her will to her only daughter, the online checker confirms that no inheritance tax is due as the threshold increases to £500k in these circumstances. Can the application for probate go ahead, or is an IHT400 form required? The guidance is contradictory and unclear Many thanks.
Hi Darrell, and thanks for your query. Yes, I agree, the HMRC guidance on what can and cannot pass through the excepted estate procedure is in parts ambiguous! As I am sure you are aware, there are issues beyond just values that may apply (eg lifetime gifts, trusts, assets abroad), but if there is a property, then there should be a £500k exemption (at least) available meaning the excepted estates provisions may apply. If the deceased was previously the sole beneficiary of their spouses estate, a further £500k exemption may apply making a total of up to £1mil. Do reach out if you would like any help with the estate. Amongst other things, we offer a fixed fee for excepted estate probate applications. Many thanks from us all at Team QLAW!
