I'm preparing an Inheritance Tax Estate report for HMRC, prior to applying for probate.
It's unclear to me whether the 'funeral expenses' section should include the costs of the funeral itself, namely, the funeral, cremation and Funeral Director's fees.
The advice covers such things as flowers, mourning clothes, refreshments and so on - but nothing about the major funeral expenses.
Is that because it is assumed that the main funeral expenses will be included anyway, or because they should be excluded?
Perhaps I'm overthinking it, but it's not obvious to me...
TIA.
Watis
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Funeral expenses
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Re: Funeral expenses
Watis wrote:I'm preparing an Inheritance Tax Estate report for HMRC, prior to applying for probate.
It's unclear to me whether the 'funeral expenses' section should include the costs of the funeral itself, namely, the funeral, cremation and Funeral Director's fees.
The advice covers such things as flowers, mourning clothes, refreshments and so on - but nothing about the major funeral expenses.
Is that because it is assumed that the main funeral expenses will be included anyway, or because they should be excluded?
Perhaps I'm overthinking it, but it's not obvious to me...
TIA.
Watis
You should deduct all the funeral expenses from the estate.
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