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Tax Form - A tax form example for the Wills and Admin module
Wills and Administration of Estates
University of Law
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IHT205(2011) Page 1 7002201 HMRC 11/
When to use this form Fill in this version of this form only when the person died on or after 6 April 2011. Fill in this form where the person who has died (‘the deceased’) was domiciled (had their permanent home) in the UK at the date of death and the gross value of the estate for Inheritance Tax is less than or equal to:
- the excepted estate limit
- twice the excepted estate limit and form IHT217 ‘Claim to transfer unused nil rate band for excepted estates’ is attached
- £1,000,000 and there is no Inheritance Tax to pay because of spouse, civil partner or charity exemption
Keep a copy of this form for your records as HMRC cannot provide you with a copy at a later date.
Notes Read the notes in booklet IHT206(2011) to help you fill in this form. Help For more information or help:
- go to hmrc.gov/inheritancetax
- phone our helpline on 0300 123 1072 Your rights and obligations Your Charter explains what you can expect from us and what we expect from you. For more information go to gov/hmrc/your-charter
About the person who has died About the estate
1 Title enter Mr, Mrs, Miss, Ms or other title
1 Surname
1 First name
1 Date of death DD MM YYYY
1 Marital or civil partnership status?
Married or in civil partnership
Single
Divorced or former civil partner
Widowed or a surviving civil partner
1 Occupation
1 National Insurance number if known
2 In the 7 years before they died, did the deceased: make any gifts or other transfers totalling more than £3,000 per year, other than normal birthday, festive, marriage or civil partnership gifts?
No Yes
or give up the right to benefit from any assets held in trust that were treated as part of their estate for Inheritance Tax purposes?
No Yes If you answered ‘Yes’ to either part of this question, include the chargeable value of the gifts in box 9. But if this value is more than £150,000 or the assets do not qualify as ‘specified transfers’, stop filling in this form. You will need to fill in form IHT400 ‘Inheritance Tax account’ instead.
Return of estate information
MR
Voss
Jeremy Nigel
####### 2 4 0 6 2 0 2 1
✔
Retired
M N 5 0 8 9 8 1 H
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####### ✔
3 Did the deceased make any of the following: a gift, on or after 18 March 1986, where they continued to benefit from, or had some right to benefit from, or use all or part of the asset?
No Yes
or a gift, on or after 18 March 1986, where the person receiving the gift did not take full possession of it?
No Yes
or an election on form IHT500 ‘Election for Inheritance Tax to apply to asset previously owned’ that an Income Tax charge should not apply to:
- assets they previously owned, in which they retained a benefit
- the deceased’s contribution to the purchase price of assets acquired by another person, but in which the deceased retained a benefit?
No Yes If you answered ‘Yes’ to any part of this question, stop filling in this form. You will need to fill in form IHT400 instead.
4 Did the deceased have the right to receive the benefit from any assets held in a trust that were treated as part of their estate for Inheritance Tax purposes?
No Yes If you answered ‘Yes’, and the deceased:
- was entitled to benefit from a single trust, and
- the value of the assets in that trust, treated as part of their estate, was less than or equal to £150, include the value of the trust assets in box 9. But if the value was £150,000 or more, or there was more than 1 trust, stop filling in this form. You will need to fill in form IHT400 instead.
5 Did the deceased own or benefit from any assets outside the UK?
No Yes If you answered ‘Yes’, include the value of the overseas assets in box 9. But if the value of the overseas assets is more than £100,000, stop filling in this form. You will need to fill in form IHT400 instead.
6 Did the deceased pay premiums on any life insurance policies that were not for their own benefit or did not pay out to the estate, and did they buy an annuity at any time? Ignore any policies paid out to a surviving spouse or civil partner
No Yes If you answered Yes, stop filling in this form. You will need to fill in form IHT400 instead.
7 Did the deceased have any kind of pension arrangement other than the State Pension?
No Yes If you answered ‘No’, go to the next section ‘Deceased’s assets at the date of death’.
8 Did the deceased change or dispose of their pension in the 2 years before they died? Ignore any pensions paid to a surviving spouse or civil partner
No Yes If you answered Yes to this question, stop filling in this form. You will need to fill in form IHT400 instead.
About the estate continued
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Debts payable out of assets totalled in box A
10 Share of mortgage on a property owned as a joint asset Box 10 £
and shown in box 9.
10 Share of other debts payable out of joint assets Box 10 £
10 Debts payable out of trust assets Box 10 £
10 Debts owing to persons outside of the UK Box 10 £
Total debts payable out of assets in boxes 9 to 9 Box B £
(add together boxes 10 to 10)
Net value of assets for which a grant is not required Box C £
(box A minus box B) (this value may be nil)
Deceased’s own assets for which a grant of
representation is required
Please include:
- the gross value for each item before deduction of any exemptions or reliefs
- all assets, ignoring any changes that may take place through a Deed of variation made after the death
- the deceased’s share of jointly owned assets not passing automatically to the surviving joint owner.
11 Cash, including money in banks, building societies and Box 11 £
National Savings
11 Household and personal goods Box 11 £
11 Stocks and shares quoted on the Stock Exchange Box 11 £
11 Stocks and shares not quoted on the Stock Exchange Box 11 £
11 Insurance policies, including bonuses and mortgage Box 11 £
protection policies
11 Money owed to the person who has died (outstanding loans) Box 11 £
11 Partnership and business interests Box 11 £
11 Value of the freehold/leasehold residence of the person who Box 11 £
has died if owned in their sole name or as tenants-in-common Freehold/leasehold residence address
Postcode
Deceased’s assets at the date of death continued
0
0
0
0
250,
59,
12,
5,
0
240,
0
0
0
11 Value of other freehold/leasehold residential property if owned Box 11 £
in their sole name or as tenants-in-common Freehold/leasehold property address
Postcode
11 Value of other land and buildings if owned in their sole name Box 11 £
or as tenants-in-common Other land and buildings address
Postcode
11 Any other assets not included above, including, for example, Box 11 £
refunds, Income Tax repayments and any lump sum or continuing payments from a pension scheme
Gross value of assets for which a grant is required Box D £
(add together boxes 11 to 11) (read IHT206(2011) ‘Notes’ page 22)
Debts of the estate payable out of assets shown in
boxes 11 to 11.
12 Funeral expenses Box 12 £
12 Mortgage or share of a mortgage on a property or land in Box 12 £
boxes 11 to 11.
12 Other UK debts owed by the deceased Box 12 £
Total debts payable out of assets in Boxes 11 to 11 Box E £
(add together boxes 12 to 12)
Net estate in the UK for the grant of representation Box F £
(box D minus box E)
Net estate for Inheritance Tax purposes Box G £
(add together box C + box F)
Gross value for Inheritance Tax purposes (box A + box D) Box H £
(read IHT206(2011) ‘Notes’ page 23)
Deceased’s assets at the date of death continued
385,
Ferry View Orford Suffolk
WE21 6AP
0
0
701,
1,
0
180
1,
700,
950,
951,
Exemptions
Please read IHT206(2011) ‘Notes’ before filling in this section.
In box J, enter the value of any exemption for assets passing Box J £
**on death to:
- the surviving spouse or civil partner of the deceased, or
- a qualifying charity or for national purposes** Do not include agricultural or business relief here
Describe the extent of the exemption. If you are including charity exemption give the full name of the charity/charities, the country of establishment and the Charities reference numbers, if available. Where exemptions include particular assets, list those assets and show the amount included 14
Net qualifying value for excepted estates (box G minus box J) Box K £
(this value may be nil)
If the value in box K is above the excepted estate limit, you must fill in form IHT400 ‘Inheritance Tax account’ unless you are claiming a transfer of unused nil rate band. If you are claiming a transfer of unused nil rate band, you must attach a completed form IHT 217 ‘Claim to transfer unused nil rate band for excepted estates’ to this form.
If you find something has been left out, or if any of the figures you have given in this form change later on, you only need to tell HM Revenue & Customs (HMRC) if, taking all the omissions and changes into account, the value at box K is more than the Inheritance Tax nil rate band (or twice the nil rate band where form IHT217 has been submitted). You must then fill in form IHT400 and send it to HMRC. You will also need to pay any tax that is due. The issue of the grant of representation does not mean that there is no Inheritance Tax due on this estate.
Deceased’s assets at the date of death continued
691,
Spouse exemption on £691,000 passing to spouse
259,
If you give false information, or the estate fails to qualify as an excepted estate and you do not tell HMRC within 6 months of the failure coming to your notice, you may have to pay financial penalties or face prosecution.
I/we declare that the gross value of the estate for Inheritance Tax (see box H on page 5) is less than or equal to: tick 1 box
the excepted estate limit
twice the excepted estate limit and a claim to transfer unused nil rate band (form IHT217) is attached, or
£1,000,000 and there is no Inheritance Tax to pay because of spouse, civil partner or charity exemption
I/we declare to the best of my/our knowledge and belief that the information I/we have given on this form is correct and complete.
Name Name
Address Address
Postcode Postcode
Signature
Date DD MM YYYY
2 0
Signature
Date DD MM YYYY
2 0
Name Name
Address Address
Postcode Postcode
Signature
Date DD MM YYYY
2 0
Signature
Date DD MM YYYY
2 0
Declaration
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Mishal Voss
Lilac Cottage, Magpie Lane Hadleigh Suffolk IP7 6NB
Emma Voss
7 Berry Gardens Hackney London E8 9JN
Tax Form - A tax form example for the Wills and Admin module
Module: Wills and Administration of Estates
University: University of Law
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- More from:Wills and Administration of EstatesUniversity of Law381 Documents
