Form P1000 now available digitally
Dealing with a deceased person's tax affairs can be drawn out, partly due to the authorisation process. However, a recent change should help simplify things. What’s the full story?
When a client dies, HMRC will cancel the authority the advisor holds - required to act on the their behalf. This means that the advisor immediately loses access to all of their client’s online information. If the advisor is to continue acting, e.g. filing the tax return for the estate during the administration period, they have to reapply for authority to act for the personal representatives. This is generally done by submitting a form 64-8, but HMRC prefers the application to be made on form P1000, which contains information pertinent to the estate, e.g. the personal representatives’ details.
Using form P1000 secures authorisation up to the date of death as well as the administration period, and helps to avoid issues with repayments. The problem is that, until now, the form has had to be requested from HMRC, which inevitably means delays. The good news is that the form is now available online, which should help streamline things for the advisor and the personal representatives.
Related Topics
-
The tax incentive to do a thorough stock-take
The annual stock-take isn’t exactly your favourite thing to do. You know resources could be better spent elsewhere so you try to get through it as quickly as possible. Why might it be worth a little more of your time?
-
MONTHLY FOCUS: STARTING TO THINK ABOUT VAT
The VAT registration threshold has barely changed over the last decade. As a result, more businesses are having to register. In this Focus, we look at the key considerations for a business that needs to register, or one that may be considering doing so on a voluntary basis.
-
Unused sales suppression tools can still trigger penalties
HMRC has published a new compliance factsheet explaining the penalties that can apply where a business possesses an electronic sales suppression (ESS) tool, even if it has never actually been used to suppress a sale. What do you need to know?