HMRC IHT 400 Forms and IHT400Full

IRIS Laserform was the first to market with the launch of their new IHT400 Full system for probate practitioners who need to make the necessary submission of the deceased’s estate details to HMRC, and calculate inheritance tax payments.

The IHT 400 notes and its supplementary pages (IHT401 to IHT423) are used as part of the probate or confirmation process if there’s Inheritance Tax to pay or the deceased’s estate does not qualify as an ‘excepted estate’ (the form replaced the old form IHT200).

Both of the OPSIS solutions Practice Management System (PMS) and Small Practice System (SPS) integrate with the Laserforms electronic legal forms packages. In May 2009, Laserforms was greatly improved for the submission of inheritance tax forms. Please note Laserforms is an IRIS product (OPSIS is part of IRIS Software & Services).

The new HMRC IHT 400 Full is an adapted Laserform that combines all 25 forms and schedules into 1, which you can use if you want to save time, have several supplemental forms and you want the form to carry out the calculations for you. This 25-in-1 form will populate the information into all of the forms supplemental to the IHT400.

IRIS Laserform Sales Director, Mike Boynes, explained:

“The IHT400Full is both easy to use and a great time saver. Users simply navigate through the hyperlinked index to locate and select the forms necessary for completion. After the information for the deceased has been inserted into the IHT400, this information then automatically filters through to all the relevant supplemental forms.

Similarly, as the matter progresses and additional information regarding the value of assets becomes available or the values change and the information needs to be modified, you enter data or make changes only once on the relevant schedule, and this will automatically update the IHT400 and the IHT400Calc.

Many Laserforms clients have already signed up for the IHT400Full. Users are elated at the amount of time saved by the automatic flow through feature, which significantly increasese efficiency of the firms probate departments. The IHT400Full really is a “no brainer” for probate solicitors who demand more than just the standard IHT400 forms. We are inundated with requests for the IHT400Full as we continue to roll it out to a large proportion of our client and prospect base.”

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Posted on February 19th, 2010 under OPSIS News • Tags: iht400, OPSIS News. • Print This Post • Email this Post • RSS 2.0 feed • Leave a response, or trackback