One of the biggest questions executors ask is "Do I need to complete an IHT400 Form?" The answer depends on the value of the estate, the assets it contains, gifts made during the deceased's lifetime and whether the estate qualifies for any Inheritance Tax allowances or exemptions.

This guide explains what the IHT400 Form is, when it is required, who needs to complete it, how to check whether Inheritance Tax may be due and what to do before completing the form.

The IHT400 Form is the main Inheritance Tax account submitted to HMRC when an estate does not qualify as an excepted estate.

It is a summary document which is supported by information on other IHT forms. So when we talk about the IHT400 form, it is rarely a form on it's own, there are other accompanying forms and these forms are explained and listed inside the IHT400.

The form provides details of the deceased's:

• Property and land
• Bank and building society accounts
• Investments
• Shares
• Personal possessions
• Gifts made before death
• Debts and liabilities
• Trusts
• Businesses and agricultural assets (where applicable)

HMRC uses this information to see if any Inheritance Tax is payable and if so, how much is payable.

You can check this yourself before completing the IHT400 using the IHT Checker Tool (see below for more info on this).

Not every estate requires an IHT400 Form.

Generally, the form is required where:

• The estate exceeds the available Inheritance Tax thresholds.
• The estate is too complex to qualify as an excepted estate.
• Significant lifetime gifts have been made.
• Trusts or foreign assets are involved.
• Certain tax reliefs need to be claimed such as the nil rate tax bands and residential nil rate tax bands. For more info on this, read our article here

Because every estate is different, it is important to establish whether an IHT400 is actually required before beginning the paperwork.

The IHT400 is normally completed by:

• The executor named in the will.
• The administrator of the estate if there is no will.
• Occasionally, a solicitor or probate professional acting on behalf of the personal representatives.

Although many people choose professional assistance, there is no legal requirement to use a solicitor and many executors complete the form themselves.

No, unfortunately not.

The only way to complete the IHT400 form and other inheritance tax forms is by downloading the forms from the Government website (or buy your DIY Probate Kit and all the latest versions of the probate and all IHT forms are included in 1 simple download).

You can apply for probate online though (or via the PA1P form if there is a will or the PA1A if there is no will).

Many executors spend hours reading HMRC guidance before they even know whether Inheritance Tax is payable.

The IHT Checker has been designed to simplify this process.

By answering a series of straightforward questions about the estate, the checker helps you understand:

• Whether an IHT400 Form is likely to be required.
• Whether the estate may qualify as an excepted estate.
• Which additional Inheritance Tax forms may be needed.
• Which tax allowances and reliefs may apply.
• Whether Inheritance Tax is likely to be payable.

Using the checker before completing the paperwork can help you understand the process and reduce unnecessary confusion.

You can use the IHT Checker Tool for free on the Government website. 

Although this is a simple free tool, this can be where mistakes are made if you enter the wrong information. These mistakes can then get fed into your IHT and/or probate forms.

That's why we created a short IHT Checker Mini Training Course which explains:

• How the checker works.
• How to answer each question correctly
• Understanding your personalised report.
• What info you need to prepare before using the tool.
• The next steps before completing your Inheritance Tax forms or Probate Forms

👉 Get your access to our IHT Checker Mini Training here 

Are you looking for help to complete the IHT400 form or would you like us to check yours before you submit it to HMRC? Give the Let's Do Probate team a call on 0330 229 0319 , and we’ll be happy to help. You can schedule a free timed call to suit you, using our online booking system here