This article explains how to prepare an IHT409 (pensions) schedule in your case
There are 2 different asset types on the platform you can generate an IHT409 schedule for:
Adding Pensions to your case
- Navigate to the Estate Overview page in your case and click to add new Pension
- Enter all relevant information into the Account information, Pension value and Additional information sections:
- Click Save
Creating an IHT409 schedule for pensions
- When ready to create an IHT400 form on your case, go to Documents & forms > Inheritance Tax forms - please see How do I prepare an IHT400 form and schedules
- Select IHT400 from the dropdown menu and click Generate form
- On page 5 of the IH400 form, you will see Yes ticked against question 36 Pensions
- Once you have updated everything you need to in the IHT400, click Save & close
- In the Inheritance Tax Forms page an IHT409 will appear in your list of forms:
💡 If you have added multiple pensions to your case, a separate schedule will be generated for each pension and will be labelled with the pension provider name
🙋♀️ Please see here for more detailed guidance on how to generate an IHT400 and relevant schedules
⭐ If you have already generated an IHT400, there is no need to generate again. When you add a pension, you will see an IHT409 form automatically generates within the Inheritance Tax forms section
Reviewing the IHT409 form
- Click on the IHT409 form to open it
💡 You will see some fields in the schedule are grey and some are white. Grey fields require a manual update and white fields are prepopulated with the pension information you have added to your case
- Manually update any grey fields and check over any prepopulated information in the white fields:
👍 The Amount of the death benefit payment value in box 15 will prepopulate box 56 of the IHT400 provided you have ticked No in question 12 in the IHT409 schedule
- Once you have finished reviewing the schedule and updating any values, choose to Save & close the schedule
Adding Pension arrears to your case
- Navigate to the Estate Overview page in your case and click to add new Money owed to deceased
- Select Pension arrears from the dropdown menu:
- Enter all relevant information in the Item information and Money owed value sections:
- Click Save
Creating an IHT409 schedule for pension arrears
💁 If you would like to generate an IHT409 schedule for pension arrears, in the pension arrears asset ensure you have selected Yes to this question: Would you like to generate an IHT409 pension schedule for this pension arrears?
- When ready to create an IHT400 form on your case, go to Documents & forms > Inheritance Tax forms - please see How do I prepare an IHT400 form and schedules
- Select IHT400 from the dropdown menu and click Generate form
- On page 5 of the IH400 form, you will see Yes ticked against question 36 Pensions
- Once you have updated everything you need to in the IHT400, click Save & close
- In the Inheritance Tax Forms page an IHT409 will appear in your list of forms:
💡 If you have added multiple pension arrears to your case, a separate schedule will be generated for each pension arrears and will be labelled with the pension provider name
⭐ If you have already generated an IHT400, there is no need to generate the form again. When you add pension arrears and say Yes to the question asking whether you would like to generate an IHT409 form, you will see an IHT409 form automatically generates within the Inheritance Tax forms section
Reviewing the IHT409 form
- Click on the IHT409 form to open it
💡 You will see some fields in the schedule are grey and some are white. Grey fields require a manual update and white fields are prepopulated with the pension arrears information you have added to your case
- Manually update any grey fields and check over any prepopulated information in the white fields
💁 There is no need to add a value for the pension arrears in the IHT409 schedule. The value you added against the pension arrears asset will automatically prepopulate box 56 of the IHT400 regardless of whether you have chosen to generate an IHT409 schedule in your case for the pension arrears
- Once you have finished reviewing the schedule and updating any values, choose to Save & close the schedule
👷 Our team are regularly making improvements and adding new features. Some things may have changed since this guide was written as functionality gets even more fabulous. If you need further assistance, please contact the Customer Success team who are always happy to help.
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