Applying for Probate if No Inheritance Tax is Due

The last thing any of us wants is to set off alarm bells in the distinguished corridors of Her Majesty’s Revenue and Customs.

Therefore, it is important that you have a fair idea of the value of an estate when applying for probate. There’s no way you can calculate the exact sum involved until all asset and liability holders have been contacted. But you should know whether it is below the inheritance tax threshold of £325,000 or less than £1m if no tax is due because of spouse, civil partner or charity exemption.

If the estate does fall below those values, you need to fill in form PA1 – if the death occurred in England or Wales – and form IHT205. These tell the Probate Registry about the deceased and the value of the estate. Guides are usually available to help you complete this paperwork.

Be as accurate as you can. Failing to be open and honest may result in lengthy delays. And it could cause the beneficiaries and the taxman to feel decidedly uneasy, which is something that is best avoided at all costs.

For help with probate forms, contact Heritage Will Writing on 02380 879243.