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Inheritance Tax

What is Inheritance Tax, and Does the Estate Need to Pay It?

Inheritance Tax (IHT) is a tax on the value of a deceased person’s estate above certain thresholds. It is charged at 40% on the portion of the estate that exceeds the available tax-free allowance. A number of exemptions and reliefs can significantly reduce or eliminate the liability. Most estates do not pay Inheritance Tax.

The nil rate band

Every individual has a standard nil rate band of £325,000. Assets up to this value can pass free of IHT. The NRB has been at this level since 2009 and is frozen until at least April 2030.

The Residence Nil Rate Band

Where a residential property passes to a direct descendant, an additional allowance called the Residence Nil Rate Band (RNRB) is available, currently up to £175,000 per person. Combined with the standard NRB, a qualifying individual may be able to pass up to £500,000 free of IHT.

Transfers between spouses

Assets passing between married couples or civil partners are generally exempt from IHT at the point of the first death. Any unused nil rate band and RNRB can also be transferred to the surviving spouse’s estate.

When does IHT have to be reported?

Even if no IHT is due, the estate’s value must still be reported as part of the probate application. For most estates, which are excepted estates, this is done by entering the estate’s values directly on the probate application, and nothing is sent to HMRC. Where the estate is not excepted, an IHT400 is sent to HMRC first. An estate can be non-excepted even when no Inheritance Tax is due. YouCanDoProbate performs every IHT calculation automatically and completes the IHT400 and all required supplementary schedules where they are needed.

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Excellent! I wish I had found sooner

So, so easy. I wish I had found sooner as I put off doing probate thinking it would be bad but it was fine. I got a bit stuck and had a quick call and then all went through smoothly. Thank you, I would definitely recommend to all.

Carol Fennell
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I signed up with trepidation having…

I signed up with trepidation having never had to do this before!! However I managed all the form filling with ease and much to my surprise did not have to telephone for help once. I am 70 years of age and would not describe myself as a computer expert in anyway and am a bit of a dinosaur! I would not hesitate to use this service again and will certainly recommend it if asked. For the record I received official notification and paperwork from HMC and Justices that probate had been granted within 21 days of posting the forms. Perhaps I was lucky but this service was idiot proof and saved me the cost of a solicitor.

ken roberts
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Such a great help at a time of loss

Such a great help at a time of loss

Steven O'Brien
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Obtaining Probate need not be daunting.

I had obtained Probate twice before this one so the process was not completely unknown to me. However, since my last effort there have been changes to the process, so I looked for guidance and found YouCanDoProbate and decided to use them and their package. I cannot recommend them highly enough – the package and the support that accompanies it is superb. Thank you so much.

Thelma
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Having spoken to HMRC for advice…

Having spoken to HMRC for advice following the death of my Mum they told me what forms I needed…. the forms were multiple, long and confusing as where the notes to help you fill in the forms !!! This platform just seemed too good to be true which is what I said to Tom when I phoned to enquire . He was very informative and reassuring about how and why it works and reassured me there is constant support during the whole process of completion. I sat with the HMRC forms one more time, gave up again and then I registered on the platform which took minutes , paid my £499 and I never looked back . It really does all the work for you and yes on the couple of occasions I did need guidance Tom was there calling me back after logging a support call within half an hour . Completed the platform …. Probate forms then all printed off from the information you have already input and then just a trip to the post office to post and then peace of mind !! Now I’m just waiting for it to be processed by the Probate office .

Karen
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Very easy to follow.

Very easy to follow . Help available if required. Certainly a savings compared to solicitors fees.

S Evans
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An Excellant service

An Excellant service. I made good use of the advice given in the app which made the process simple and unbelievably it was granted by the HMCTS just four working days after it was delivered to them. Admittedly it was a relatively simple estate but definitely worth considering using this app rather than very expensive solicitors.

Garry Brisdion
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Excellent programme

Excellent programme, very easy to use. Probate granted in 6 weeks with no problems. Highly recommend and would use again. Saved a FORTUNE on solicitors.

Keith
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Smooth

Any problem that I came up against, was sorted out over the phone , I highly recommend youcandoprobate

Andrew
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I found the platform very helpful

I found the platform very helpful. I was especially impressed with the help desk capability – very timely and helpful.

Mike
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YouCanDoProbate was great, I would recommend !

YouCanDoProbate was great and took you carefully through all the questions & areas that are needed to complete and submit Probate forms and calculate any IHT payable. It may seem a daunting task, but taking it one section at a time, I was able to complete and obtain probate saving thousands in Solicitors fees. Most of the information you are going to have to obtain yourself, even if using a Solicitor.

Customer
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Luckily we came across the…

Luckily we came across the “YouCanDoProbate” website which instantly transformed the task of applying for Grant Of Probate into a much less time consuming much more straightforward and easy to follow process. Considerably cheaper than using a solicitor plus comprehensive & friendly support throughout the process from Tom. Would thoroughly recommend this service to anybody. Thank you.

Marlene
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Additional costs: The probate registry fee of £526 (for all estates over £5,000) and any additional official copies at £2 each. (Payable directly to HM Courts and Tribunals Service by cheque or postal order, enclosed with your application forms).
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© YouCanDoProbate • YouCanDoProbate is a trading name of Kabing Ltd.
YouCanDoProbate is an online platform providing legal forms and information. YouCanDoProbate is not a law firm and is not regulated by the Solicitors Regulation Authority (SRA). Our online probate and inheritance tax service is an online platform providing probate and inheritance tax forms and information to allow you to complete inheritance tax returns and apply for probate yourself. Our telephone, email and livechat support provides guidance only, we do not provide bespoke advice, including estate planning or tax advice and it is not a substitute for a lawyer’s advice about complex estate planning or tax issues.
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