Step 2: how to claim
Complete a claim form
If you are sorting out the savings of someone who has died, you will need to fill in a claim form. On the form, you will need to provide your details, the customer’s details and any information you have about their savings.
If you have any queries about filling out the form, contact us.
What we need to know
If you only have some details of the accounts, bonds and certificates, just tell us as much as you can about the customer who has died and their savings. This will help us to determine what savings the customer had. If you come across details of other savings at a later date, simply let us know.
If you don’t have any details
If you’re not sure what NS&I savings the customer had, you can use our Tracing service.
Inheritance tax
When someone dies, their savings, property and assets left behind (known as their ‘estate’) have to be valued at the date of death. Once you know the value of the estate, you can then find out if any inheritance tax is payable.
Inheritance tax is only payable in certain circumstances, depending on the value of the estate and whether any of the assets were held in trust (which affects the amount of tax payable). The inheritance tax limit changes from time to time.
If inheritance tax is payable, the person dealing with the estate will usually have to pay some of the amount of tax due before probate is granted. The full amount is due six months from the end of the month when the customer died.
* For more information on inheritance tax, visit HM Revenue & Customs at www.hmrc.gov.uk or phone the Probate and Inheritance Tax Helpline on 0845 3020 900. NS&I is unable to tell you if the estate is liable for inheritance tax.
If you need money urgently for funeral expenses or inheritance tax
We will usually pay out part or all of the claim upfront if you need money to pay funeral expenses or inheritance tax. If a Grant of Representation (or Letters of Confirmation) is needed but has not yet been obtained we can pay out the claim and once probate is granted, we’ll deduct the amount from the rest of the claim.
To request payment of funeral expenses or inheritance tax:
- You’ll need to confirm that no other funds are available to meet the funeral expenses or tax payable.
- For funeral expenses, we’ll need to see the funeral bill. We’ll pay the amount direct to the funeral directors.
- For inheritance tax, we’ll need to see a letter or statement from the tax office confirming the amount due. We’ll pay the amount direct to HM Revenue and Customs.
- We’ll ask the Executor or Administrator to sign a repayment form to confirm that the funeral expenses or tax amount will be repaid from the balance of the claim.
