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When Inheritance Tax forms are needed
If someone dies and their estate may be worth more than the Inheritance Tax threshold, the personal representatives usually need to complete forms for HMRC. The exact forms depend on the value and type of assets in the estate. In many cases, the forms are needed even if no tax is ultimately payable.
These forms are used to report the estate to HMRC before probate can be granted. If the estate is straightforward and below the relevant threshold, the process is simpler. More detailed forms are required where the estate is larger, contains trusts, or includes complicated assets.
The main Inheritance Tax forms
The most common form is IHT205, which is usually used for excepted estates. This is generally for estates that fall below the Inheritance Tax threshold and do not need a full account. It is normally the simpler option for smaller, uncomplicated estates.
For estates that are not excepted, the main form is IHT400. This is the full Inheritance Tax account and is used when more detailed reporting is needed. It is often submitted with additional schedules that give HMRC more information about the estate’s assets, debts, gifts, and reliefs.
Additional schedules you may need
If you complete form IHT400, you may also need to fill in extra schedules depending on the estate. These can cover property, shares, bank accounts, joint assets, foreign assets, gifts made in the last seven years, and liabilities. Each schedule gives HMRC a clearer picture of the estate’s value.
Some estates may also need forms relating to trusts, business property relief, or agricultural property relief. If there are pensions or insurance policies, these may need to be listed too. The more complex the estate, the more supporting forms are likely to be required.
What happens before probate
The Inheritance Tax forms are usually submitted before probate is applied for. HMRC must receive the correct paperwork so they can check whether any tax is due. In some cases, tax must be paid before probate can be issued.
Executors should gather as much information as possible before starting the forms. This includes property valuations, bank statements, share valuations, outstanding debts, and details of gifts. Accurate information helps avoid delays and reduces the risk of errors.
Getting help with the forms
Inheritance Tax paperwork can be complicated, especially where there are multiple beneficiaries or unusual assets. Many people choose to use a solicitor or probate specialist to make sure the right forms are completed. This can be especially useful if the estate is above the threshold or includes relief claims.
Even for a smaller estate, it is worth checking carefully which form applies. Using the wrong form can delay the probate process. If you are unsure, HMRC guidance or professional advice can help you decide what needs to be completed.
Frequently Asked Questions
Inheritance Tax forms are used to report the value of a deceased person's estate, calculate any Inheritance Tax due, and provide the information needed by the tax authority to assess the estate correctly.
The person responsible for administering the estate, usually an executor or administrator, typically needs to complete Inheritance Tax forms if the estate must be reported for tax purposes.
A simple estate may require only the main Inheritance Tax form and any supporting schedules needed to show assets, debts, gifts, and reliefs, depending on the estate's details and whether tax is due.
A taxable estate usually requires the main Inheritance Tax form plus relevant supplementary schedules covering property, bank accounts, shares, gifts, trusts, debts, and reliefs so the tax can be calculated accurately.
Assets on Inheritance Tax forms are generally valued at their open market value at the date of death, meaning the amount they could reasonably have been sold for on that date.
Yes, Inheritance Tax forms usually include gifts made before death, especially if they fall within the reporting period or may affect the tax calculation for the estate.
Yes, Inheritance Tax forms often require probate-related information because the estate valuation and tax position are usually needed before probate can be granted or an estate administered.
Inheritance Tax forms should be submitted within the deadline set by the tax authority, which is often linked to the date of death and the point at which the estate is reported for probate or tax assessment.
In many cases, Inheritance Tax forms can be completed or started online, but some estates still require paper forms or additional documents depending on the complexity of the estate.
Common documents needed for Inheritance Tax forms include death certificate details, asset statements, property valuations, mortgage information, debt records, gift records, and trust or pension information where relevant.
Jointly owned assets on Inheritance Tax forms are usually reported according to the deceased person's share of the asset, which depends on how the ownership was arranged and the type of asset involved.
Pensions may need to be included on Inheritance Tax forms in some situations, especially if they form part of the estate or if the tax authority requires details about pension arrangements.
Yes, trusts may need to be included on Inheritance Tax forms if the deceased had an interest in a trust, made transfers into trust, or if trust assets affect the estate's tax position.
If Inheritance Tax forms are filed late, penalties, interest, or delays in estate administration may apply, and probate or asset distribution may be held up until the issue is resolved.
Yes, Inheritance Tax forms can often be amended after submission if errors are discovered, but the correction process should be completed promptly and supported by accurate evidence.
Reliefs and exemptions are usually entered in specific sections of Inheritance Tax forms so they can reduce the taxable value of the estate where the rules allow.
Yes, funeral expenses are often included on Inheritance Tax forms as allowable deductions, provided they meet the relevant rules and are properly documented.
Inheritance Tax forms report the estate's value for tax purposes, while probate forms are used to obtain authority to deal with the estate. They are related but serve different legal and tax functions.
Yes, a solicitor, tax adviser, or other professional can complete Inheritance Tax forms on behalf of the executor or administrator, especially when the estate is complex.
Records should be kept for several years after submitting Inheritance Tax forms in case the tax authority asks for evidence or needs clarification about the estate valuation or reported information.
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