The administration of an estate is a complex process that requires a lot of attention to detail. One of the most crucial elements is the inheritance tax return (IHT400), which must be completed and submitted to HM Revenue & Customs. Any fee-earners involved in estate administration is likely accustomed to the potential pitfalls when it comes to completing an IHT400 form and the time and resource required to complete it accurately. This is where an effective forms software solution can be of great help.
Cloud Forms is a cloud-based solution that simplifies the process of completing and submitting the IHT400 form, designed to make it easy for you to input and manage data, generate forms, and communicate with clients and other stakeholders. Here are some of the key benefits of using Cloud Forms for IHT400:
Automated data input
One of the most time-consuming aspects of completing IHT400 is inputting all the necessary data. This process is automated in Cloud Forms, saving you hours of work. The software can automatically extract data from relevant sources within your case management system, including bank statements, property valuations, and stock portfolios. This means you can quickly and easily import the data into the software and start working on the form.
Streamlined form generation
Cloud Forms makes it easy to generate IHT400 forms quickly and accurately. The software automatically populates the forms with the data you've input, so you don't have to worry about making errors or missing information. This saves you time and helps ensure that your forms are accurate and complete.
Collaboration and communication
Cloud Forms makes it easy to collaborate with members of your team, clients and other stakeholders. Forms can be shared easily and data securely through the software, so everyone involved in the process can access the information they need. This helps to streamline the process of completing IHT400 and ensures that everyone is on the same page.
The software uses robust encryption and other security measures to protect your data from unauthorised access. This means you can feel confident that your clients' information is safe and secure as well as avoiding any penalties.
Time and cost savings
Using Cloud Forms for IHT400 can save you significant amounts of time and money. By automating data input, streamlining form generation, and facilitating collaboration and communication, you can complete IHT400 forms more quickly and efficiently. Ultimately you can take on more work and serve more clients, without sacrificing quality or accuracy.
We’re your legal software partner
Click here to find out more about how our Cloud Forms IHT400 Workflow feature helps law firms work more effectively and efficiently.
More than 5,000 law firms and barristers chambers across the UK trust us to keep them ahead of the curve. With legal procedures becoming ever-more digitised, our solutions are designed so you can not only meet the challenge but go beyond it and utilise software powered possibility to maximise efficiency, ensure security and compliance and make the day-to-day easier.
For more information about our Advanced Cloud Forms IHT400 Workflow product, click here.