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IHT and probate - how it works, problems and risks



Mon 8 January 2024 IHT and probate - how it works, problems and risks

Where inheritance tax is or may be payable on an estate, matters can get quite confusing and complicated in terms of completing the correct forms and the interaction between the probate application and paying IHT.

The forms which must be completed, alongside the pitfalls of administering an estate which may be complex with numerous assets, often means that executors decide it’s prudent to get legal help.

Our specialist probate lawyers provide an experienced, practical and cost effective advice and services, so please do get in contact to find out how we can help and the fees.

The IHT part of applying for probate -what’s involved?

The following are some of the key overview points to note :-

Raising funds to pay the IHT

One of the problems for executors is to balance the need to act thoroughly in maximising the value of assets which need to be sold whilst not rushing through the process. This can create a dilemma.

Executors should assess all the available assets and debts and then see whether, if property cannot be sold prudently within 6 months of death, whether :-

Dealing with HMRC – asking for an extension of time to pay

Open communication with HMRC about your situation can help negotiate potential payment extensions or solutions. Options for extending the deadline beyond the standard 6 months may include :-

Possible pitfalls with the probate and IHT application process

Completing IHT and probate forms can be tricky, and even small mistakes can have significant consequences. Here are some of the pitfalls to watch out for:-

Financial and legal penalties and risks

These can include :-


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Law Society Conveyancing Quality
The British Conveyancing Awards - Rebecca Kelly
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ISO 27001
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LEAP Modern Law Conveyancing Awards
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