Joint bank accounts are entered within Wealth Management, Client tab and the Load Data menu option under the Assets/Liabs radio button. Subsection 'Other jointly owned assets - bank accounts' (IHT404_6_2) request the 'Value' of the account.
When recording the deceased's sole bank account information, users can record both the value of the account as at date of death, in addition to any accrued interest due.
In the event you wish to note the balance and accrued interest separately on a joint bank account, please complete the following.
Within Wealth Management, Client tab and the Load Data menu option, select the Assets/Liabs radio button. Select the Asset Type of 'Jointly owned assets', and the Subsection 'Other jointly owned assets - bank accounts'. Enter the IHT404_6_2 transaction value, and confirm whether the account is passing by survivorship. Complete all further detail within the Additional Information and Additional Amounts tabs, before clicking Add to confirm the entry.
Add a further 404_6_2 transaction specifically for the accrued interest. Amend the 'Description' to indicate it is not a further account, but an accrual for the existing account entered, to avoid confusion. Populate the information within the additional tabs with the same information as the existing account entered. Click Add to confirm the entry.
Both will populate into the IHT form, yet be recorded separately for administration purposes.
In the event of further query, please contact the support team.