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).
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!
