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Hello. I’m new to this forum.
My mother-in-law died in May 2015. My father-in-law died in Feb 2017. I was awaiting all the papers to submit the probate application. Separate applications were made in October 2019.
Nil band rate for each is £325k. The response is that mum’s exemption is not allowed as we sent the paperwork outside of two years after dad died. The separate application for mum was joined to dad’s and I was told there was no tax to be paid on her estate.
They then said that only £325k exemption is allowed for an estate worth over £1m. We have to pay £399k IHT.
Is it right? Can they take away the exemption just like that?
Also, they want us to pay £107k prior to getting the grant. We have paid £10k on account. We can probably scrape together another £5k. They are saying we have to get a loan or show refusals. We have our own mortgage and my husband (whose application I am making) has been made redundant in the recent COVID-19 pandemic. I’m reluctant to put our home in the firing line.
Any views on what we might be able to do???
My mother-in-law died in May 2015. My father-in-law died in Feb 2017. I was awaiting all the papers to submit the probate application. Separate applications were made in October 2019.
Nil band rate for each is £325k. The response is that mum’s exemption is not allowed as we sent the paperwork outside of two years after dad died. The separate application for mum was joined to dad’s and I was told there was no tax to be paid on her estate.
They then said that only £325k exemption is allowed for an estate worth over £1m. We have to pay £399k IHT.
Is it right? Can they take away the exemption just like that?
Also, they want us to pay £107k prior to getting the grant. We have paid £10k on account. We can probably scrape together another £5k. They are saying we have to get a loan or show refusals. We have our own mortgage and my husband (whose application I am making) has been made redundant in the recent COVID-19 pandemic. I’m reluctant to put our home in the firing line.
Any views on what we might be able to do???
