Another probate question!

[DorisParchment]

I am plodding my way through the IHT paperwork for my mother. My understanding, confirmed by the IHT helpline, is that I have an allowance of £650,000 (£325,000 for each parent; my Dad died in 1999 and his IHT allowance rolled over), plus £175,000 for each parent for the house.

Bank accounts total £310,000 and house valued at £495,000. I’ve filled in all of the forms and get a different number every time when I put it into the IHT calculator (and I have to put this figure on the form). I can’t find anywhere on the calculator that I can account for the allowance from my Dad. What am I doing wrong?

Hi OP you absolutely are right. you need forms IHT 402 and IHT 435.These will let you claim the transfer of your dad’s nil rate band and the Residence nil rate band. Together that gives you the full allowance.

it is confusing I will grant you that!

@PotKettel thank you so much! I thought I was being exceptionally thick! It has taken me so long to get this far, due to the fact that my Mum had so many bank accounts and bits of money in bonds and investments, and I really need to crack on and get it done.

You can tick a box to say that you want HMRC to do the calculations. Just check and re-check you have put the correct figures from each annexed form into the IHT400.