The Lemon Fool

Bouleversee wrote:So one loses 0.5% if one's certs. matured or had their anniversary in Jan. rather than Feb? I only had 2.2% RPI added in each case.

The month of the anniversary can make a difference. If you refer to this month's bulletin
https://www.ons.gov.uk/economy/inflatio ... ry2020/pdf
and search for 290.6 (Jan 2020 RPI figure) which occurs first on page 12, you will note that 12-month figures for RPI inflation for Jan is 2.7%, but for Dec is 2.2%. So there can be a difference between a certificate that has its anniversary one month, and the same certificate that has its anniversary the following month.

Also note that (as pointed out in PinkDalek's response) that NS&I use the RPI/CPI figures from 2 months previous ("lagged" in the statistical jargon) to do with publication and computations times. So if you have a certificate with an anniversary in Feb, the relevant RPI/CPI figures are from Dec.

yorkshirelad1 wrote:There is also the "Direct Payment scheme" ...

Coincidentally, if of any interest, I've today read the latest:

HMRC Trusts and Estates Newsletter: January 2020
Updated 21 February 2020
https://www.gov.uk/government/publicati ... nuary-2020

It includes at https://www.gov.uk/government/publicati ... 423-update :

Changes to the Direct Payment Scheme – IHT423 update

National Savings & Investments (NS&I) have joined the Direct Payment Scheme, simplifying the process to pay some or all of the IHT if the person who died had money in NS&I accounts.

The updated process aligns NS&I accounts with the process for other bank or building society accounts. The IHT423 form and guidance has been amended so that you can request money to be transferred directly from the deceased’s bank, building society, or NS&I accounts to HMRC. ...

PD

(Towards the top of the main page is which is not a principle private residence but that's by the by.)

PinkDalek wrote:

yorkshirelad1 wrote:There is also the "Direct Payment scheme" ...

Coincidentally, if of any interest, I've today read the latest:


National Savings & Investments (NS&I) have joined the Direct Payment Scheme, simplifying the process to pay some or all of the IHT if the person who died had money in NS&I accounts. The updated process aligns NS&I accounts with the process for other bank or building society accounts. The IHT423 form and guidance has been amended so that you can request money to be transferred directly from the deceased’s bank, building society, or NS&I accounts to HMRC. ...[/i]

Interesting.
So let's hope that makes things a bit more efficient.
OTOH, NS&I accounts could in the past (I believe) be used to pay IHT direct to HMRC before probate, so be interesting to find out what the difference is, but by now, it's purely academic.