Form IHT205 Return of Estate Information - United Kingdom

How to Fill Out Form IHT205?

Follow these steps to complete Probate Form IHT205:

1. Identify the deceased individual. Enter their title, name, date of death, marital status, occupation, and the National Insurance number if you know it.
2. Prepare to answer several questions about the estate. You need to certify whether the deceased person made any unusual transfers of more than £3,000 per year or gave up their right to obtain profit from assets included in their estate and held in trust. Answer "yes" if the individual whose interests you represent made any gifts and retained possession of them or had a right to benefit from them.
3. Tick the appropriate boxes if the deceased person owned or benefited from foreign assets, paid insurance premiums for other people, bought an annuity, had additional pension arrangements, modified or disposed of their pension in the last two years of their life.
4. List gifts and transfers the deceased made in the last seven years of their life, the share of joint assets that passed to the surviving joint owner, and assets held in trust. Indicate their value and then add the total amount of nominated and foreign assets.
5. State the debts of the deceased individual that must be paid for with their assets - for instance, a share of mortgage or debts they owed outside of the country. Add all the debts together and calculate the value of assets you do not have to obtain a grant for by subtracting total debts from total assets.
6. Compute the value of the deceased's assets that require a grant of representation. Record the address of the property if they owned a freehold or leasehold residence.
7. Enter the value of other residential property, land, buildings, and other assets they owned. Write down the addresses where necessary and add all the amounts.
8. State the value of debts that will be paid with assets covered by the grant of representation - funeral expenses, mortgage debts, and other domestic debts.
9. Compute the net estate without a grant and the net estate for the purposes of inheritance tax. Calculate the inheritance tax to be paid by adding all the assets together.
10. If there are any tax exemptions - assets that must pass to the surviving partner or a charity - indicate their value and describe the nature of the exemption. Find out the net value for excepted estates and write it down.
11. Confirm the value of the estate complies with the excepted limits and thresholds or will be exempt from taxation. State your full name and address. Sign and date the form.

Where Do I Send Form IHT205?

Mail Form ITH205 to your local probate office or district probate registry - or present it in person if possible. Attach the will in case you have and the death certificate. It is recommended to keep a copy of the tax form for your records.