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The Excepted-Estates Trap: Why ‘No Tax to Pay’ Doesn’t Mean ‘Nothing to File’

by johnireland | Articles

Most families dealing with a death assume that if there’s no Inheritance Tax to pay, there’s nothing much to file. For estates worth roughly £325,000 to £1 million, that assumption has been broadly true since the excepted estate rules changed in January...

TLDR: The Excepted-Estates Trap in Inheritance Tax Reporting

by johnireland | Tax Talk

HMRC has started sending agents an educational letter about the “excepted estate” shortcut for probate — the route that lets many non-taxpaying estates skip a full Inheritance Tax account (IHT400). The letters target applications filed at or near £325,000,...

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