Paper Forms Editorial

Range: Probate

Inheritance Tax Thresholds and Fees

Certain Regulations have confirmed the Chancellor of the Exchequer’s announcement in the Budget of a small increase in the threshold at which Inheritance Tax becomes payable for deaths occurring on or after 6th April 2003. 
 
In addition, we have also updated PEP (Sheet) (2003) to reflect payment of a special fee for members of the armed forces who are killed in military action and whose estates are exempt under section 154 of the Inheritance Tax Act 1984. 
 
Pep (2003) normally accompanies orders placed for Probate forms 4,5,8,9,11 and 12 and should be used by practitioners to complete certain information requested on the aforementioned forms. 
 
Probate 1 and Probate 1A will also be amended to reflect the new Inheritance Tax threshold when current stocks are exhausted. 
 
PEP (2002) SHOULD NO LONGER BE USED ON OR AFTER 1ST AUGUST 2003. PROBATE 1, PROBATE 1A AND PEP (2003) WILL BE AVAILABLE IN EARLY AUGUST. 

List of forms affected