Excepted Estates
pg. 397
If the estate is an excepted estate, no requirement for Form IHT400 to be submitted
Although HMRC can demand one within 35 days of the date of issue of the grant of
representation.
If later discovered estate is not except when initially believed to be, PR’s must
submit IHT400 within 6 months of discovery.
IHT Form 205
Applications for probate in relation to excepted estates must be accompanied by
Form IHT205
Three categories of excepted estate:
a) Category 1 – small estates
Gross IHT value of estate, lifetime gifts in the 7 years prior to death,
does not exceed the IHT nil rate threshold (£325,000).
b) Category 2 – exempt estate
No lifetime gifts over £150,000 in the 7 years prior to death, and
Gross IHT value of estate below £1m, and
Net IHT estate after spouse exemption not over IHT nil rate threshold.
c) Category 3 – non-domiciled estate
Deceased never domiciled in the UK, only owned limited assets.
pg. 397
If the estate is an excepted estate, no requirement for Form IHT400 to be submitted
Although HMRC can demand one within 35 days of the date of issue of the grant of
representation.
If later discovered estate is not except when initially believed to be, PR’s must
submit IHT400 within 6 months of discovery.
IHT Form 205
Applications for probate in relation to excepted estates must be accompanied by
Form IHT205
Three categories of excepted estate:
a) Category 1 – small estates
Gross IHT value of estate, lifetime gifts in the 7 years prior to death,
does not exceed the IHT nil rate threshold (£325,000).
b) Category 2 – exempt estate
No lifetime gifts over £150,000 in the 7 years prior to death, and
Gross IHT value of estate below £1m, and
Net IHT estate after spouse exemption not over IHT nil rate threshold.
c) Category 3 – non-domiciled estate
Deceased never domiciled in the UK, only owned limited assets.
