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IHT205 question and house repossession

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  • IHT205 question and house repossession

    hi I have two questions in regards to an estate:

    My father passed away 2017. He didn’t leave a will and myself, sister and brother applied for grant of representation.
    We filed estate information to HMRC in 2017 and nothing has been paid out of the estate except for the funeral since. However a Pension policy as come to light this year with a payout of £60,000, this was unknown to us and so was not declared on the return IHT205.

    Do we need to submit more paperwork to HMRC now this new pension policy has come to light even though the estate is still well below 325,000 limit?

    Also my father had a house which my brother would not move out of and so mortgage company repossessed and evicted my brother in 2019 and it sold early 2020.

    As my brother lived in my fathers house for 2 years after his death rent free, and was eventually evicted, can we reasonably deduct the mortgage payments from this time from his share of the estate? Where would we stand legally over this?

    any insight or help would be appreciated.

    thanks

    Tags: None

  • #2
    Regarding the newly discovered Pension, just inform HMRC about it . They'll probably have a special voluntary disclosure form that they can do some pen pushing on!

    Regarding your brother's occupation of the house, it might be better to claim occupational rent.

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