Hmrc Form Iht205 – Fill Out and Use This PDF

Return of estate information

Fill in this version of this form only when the person died on or after the 1st September 2006.

Fill in this form where the person who has died (—the deceased“) had their permanent home in the United Kingdom at the

date of death and the gross value of the estate for inheritance tax—V“ fl is less than the excepted estate limit, or

fl is less than £1,000,000 and there is no inheritance tax to pay because of spouse, civil partner or charity exemption only.

About the person who has died

Title

1.1

Surname

1.2

Other name(s)

1.3

Date of death

1.4

d d / m m / y y y y

Marital or civil partnership status

Write whichever is appropriate a, b, c or d in the box

1.5

a. married or in civil partnership

b. single

c.

divorced or former civil partner

d. widowed or surviving civil partner

The notes in booklet IHT206 will help you fill in this form. You must answer questions 2 - 10.

About the estate

2. Within seven years of death did the deceased

a. make any gifts or other transfers totalling more than £3,000 per year, other than normal birthday, festive,	No Yes
marriage or civil partnership gifts, or

b.give up the right to benefit from any assets held in trust that were treated as part of their estate for inheritance

tax purposes (see booklet IHT206)?

If you answer ”Yes‘ to either part of question 2, include the chargeable value of the gifts in box 14.1. But if this value is more than £150,000 or the assets do not qualify as ”specified transfers‘ (see IHT206) stop filling in this form.

You will need to fill in form IHT200 instead.

3.Did the deceased make

a.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? Or

b. a gift, on or after 18 March 1986, where the person receiving the gift did not take full possession of it? Or

c. an election that the income tax charge should not apply to

-assets they previously owned, in which they retained a benefit or

-the deceased‘s contribution to the purchase price of assets acquired by another person, but in which the deceased retained a benefit?

If you answer ”Yes‘ to any part of question 3, stop filling in this form. You will need to fill in form IHT200 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(see booklet IHT206)?

If you answer ”Yes‘ to question 4 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 £150,000.

include the value of the trust assets in box 14.2. But if the value is more than £150,000, or there is more than one trust, stop filling in this form. You will need to fill in form IHT200 instead.

5. Did the deceased own or benefit from any assets outside the UK?

If you answer ”Yes‘ to question 5 include the value of the overseas assets in box 14.5. 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 IHT200 instead.

IHT205 (2006)

www.hmrc.gov.uk/cto

Helpline 0845 30 20 900

HMRC 09/06

6. Did the deceased pay premiums on any life insurance policies that were not for the deceased‘s own benefit or did No Yes not pay out to the estate?

If you answer ”Yes‘ to question 6, you must also answer question 11.

7. Did the deceased benefit from an alternatively secured pension fund (see IHT206)?

If you have answered ”Yes‘ to question 7 stop filling in this form. You will need to fill in form IHT200 instead.

8.Did the deceased benefit under a registered pension scheme, where

• the benefit was unsecured and

• they acquired the benefit as a relevant dependant of a person who died aged 75 or over?

If you have answered ”Yes‘ to question 8 stop filling in this form. You will need to fill in form IHT200 instead.

9.Was the deceased a member of a pension scheme or did they have a personal pension policy from which, in either case, they had not taken their full retirement benefits before the date of death?

If you answer ”Yes‘ to question 9, you must also answer question 12.

10. a. Was the deceased entitled to receive payments from a pension which continued to be paid after they had died (other than arrears of pension)?

b. Was a lump sum payable under a pension scheme or pension policy as a result of the death?

If you answer ”Yes‘ to question 10, see IHT206 to find out where to include the asset.

Do not answer questions 11 or 12 unless you answered ”Yes‘ to questions 6 or 9.

11. Within seven years of the death, did the deceased

a. pay any premium on a life insurance policy under which the benefit is payable other than to the estate, or to the spouse or civil partner of the deceased, and if so

b. did they buy an annuity at any time?

If you answer ”Yes‘ to question 11(a), see IHT206 to find out how to include the premiums paid on this form. If you answer ”Yes‘ to both question 11(a) & 11(b), stop filling in this form. You will need to fill in form IHT200 instead.

12.At a time when they were in poor health or terminally ill, did the deceased change their pension scheme or personal pension policy so as to

a. dispose of any of the benefits payable, or

b. make any change to the benefits to which they were entitled?

If you answer ”Yes‘ to question 12(a) or 12(b), stop filling in this form. You will need to fill in form IHT200 instead.

13.Deceased‘s own assets (including jointly owned assets NOT passing by survivorship - see IHT206)

•You must include the gross value for each item below, before deduction of any exemption or relief.

•You must include all the assets that were part of the deceased‘s estate as at the date of death, ignoring any changes that may take place through an Instrument of Variation made after the death.

•You must make full enquiries so that you can show that the figures that you give in this form are right. If you

cannot find out the value for an item, you may include your best estimate.

13.1 Cash, including money in banks, building societies and National Savings

13.2 Household and personal goods

13.3 Stocks and shares quoted on the Stock Exchange

13.4 Stocks and shares not quoted on the Stock Exchange

13.5 Insurance policies, including bonuses and mortgage protection policies

13.6 Money owed to the person who has died

13.7 Partnership and business interests

13.8 Freehold/leasehold residence of the person who has died

Address (including postcode)

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Helpline 0845 30 20 900

Tick box to show estimated amounts —V“

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17.Exemptions (you should read IHT206 before filling in this section) In the box below, deduct any exemption for assets passing on death to

•the spouse or civil partner of the deceased, or

•a UK charity or for national purposes

Describe the extent of the exemption deducted. If for charities, etc give the name of the charity(s) or other organisation(s) benefiting. Where exemptions are deducted for particular assets, list those assets and show the amount deducted.

17.1

							H		£
		Net qualifying value for excepted estates (G - H)					J		£
17.2	Tax district and/or income tax reference number		17.2

If the value in box J is more than the excepted estate limit, you must fill in form IHT200.

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 us if, taking all the omissions and changes into account,

•the figure at box G is now higher than the inheritance tax threshold, and

•there are no exemptions to deduct which keep the value at box J below the inheritance tax threshold.

If, at any time, the value at box J is more than the inheritance tax threshold, you must list any new items and the items that have changed in a Corrective Account (form C4) and send it to us with a copy of this form along with a cheque for the tax that has become payable.

The issue of the grant does not mean that there is no inheritance tax due on this estate.

To the best of my/our knowledge and belief, the information I/we have given in this form is correct and complete. I/We have read and understand the statements above.

I/We understand that I/we may have to pay financial penalties if the answers to the questions or figures that I/we give in this form are wrong because of my/our negligence or fraud, OR if the estate fails to qualify as an excepted estate and I/we do not deliver a corrective account within 6 months of the failure coming to my/our notice.

Summary
Gross estate in the United Kingdom passing under Will or by intestacy		A		£
Debts in the United Kingdom owed by the deceased alone		D		£
Net estate in the United Kingdom	(A - D)	K		£

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Helpline 0845 30 20 900