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Inheritance Tax Manual
Publication Date: 2024
Publisher: Bloomsbury Professional
Copyright: 2024 Crown
Inheritance Tax Manual
Guidance on the assessment, collection and accounting of Inheritance Tax
Last update: 31st December 2024
Contents
- Close sectionIHTM01000: Inheritance Tax in HMRC: contents
- Close sectionIHTM02000: Communications: contents
- Close sectionSummary
- Close sectionConfidentiality and disclosure of information
- Close sectionConfidentiality and disclosure of information: Legislation
- Close sectionConfidentiality and disclosure of information: The general rule on disclosure and its operation
- IHTM02031: Confidentiality and disclosure of information: The general rule on disclosure and its operation: Disclosure - the general rule and its operation
- IHTM02032: Confidentiality and disclosure of information: The general rule on disclosure and its operation: Who is entitled to disclosure?
- IHTM02033: Confidentiality and disclosure of information: The general rule on disclosure and its operation: Disclosing information to public bodies
- Close sectionConfidentiality and disclosure of information: Incoming telephone calls
- IHTM02041: Confidentiality and disclosure of information: Incoming telephone calls: Introduction
- IHTM02044: Confidentiality and disclosure of information: Incoming telephone calls: What to request on answering the telephone
- IHTM02045: Confidentiality and disclosure of information: Incoming telephone calls: Dealing with incoming telephone calls
- IHTM02046: Confidentiality and disclosure of information: Incoming telephone calls: Requests for information on an incoming telephone call
- IHTM02047: Confidentiality and disclosure of information: Incoming telephone calls: Procedure where it is not possible to verify a caller's identity from the information held on file
- IHTM02048: Confidentiality and disclosure of information: Incoming telephone calls: Effect of these rules on customer service
- IHTM02049: Confidentiality and disclosure of information: Incoming telephone calls: Requests for information over the telephone from other government departments
- IHTM02050: Confidentiality and disclosure of information: Incoming telephone calls: Summary - Business By Telephone (BBT) Helpcard
- Close sectionConfidentiality and disclosure of information: Procedure for disclosure of information
- IHTM02061: Confidentiality and disclosure of information: Procedure for disclosure of information: Introduction
- IHTM02062: Confidentiality and disclosure of information: Procedure for disclosure of information: How to deal with requests for information
- IHTM02063: Confidentiality and disclosure of information: Procedure for disclosure of information: Charging for provision of information
- IHTM02064: Confidentiality and disclosure of information: Procedure for disclosure of information: Limited disclosure for Capital Gains Tax (CGT) purposes
- IHTM02065: Confidentiality and disclosure of information: Procedure for disclosure of information: Extent of disclosure for CGT purposes
- IHTM02066: Confidentiality and disclosure of information: Procedure for disclosure of information: Disclosure of information about aggregable property
- IHTM02067: Confidentiality and disclosure of information: Procedure for disclosure of information: Disclosure of information obtained from tax returns
- IHTM02068: Confidentiality and disclosure of information: Procedure for disclosure of information: Disclosure of information obtained under double taxation agreements
- Close sectionHumInts
- Close sectionCorrespondence: General instructions about correspondence
- IHTM02082: Correspondence: General instructions about correspondence: Introduction
- IHTM02083: Correspondence: General instructions about correspondence: Receiving and filing of correspondence
- IHTM02084: Correspondence: General instructions about correspondence: Delay and priorities in dealing with correspondence
- IHTM02085: Correspondence: General instructions about correspondence: Special Commissioners and First-tier Tribunal decisions and contentious correspondence
- IHTM02087: Correspondence: General instructions about correspondence: Civil Partnerships - notes on terminology and language
- IHTM02088: Correspondence: General instructions about correspondence: Original documents
- Close sectionCorrespondence: Incoming correspondence
- IHTM02091: Correspondence: Incoming correspondence: Acknowledgements/holding letters
- IHTM02092: Correspondence: Incoming correspondence: Letters addressed personally
- IHTM02093: Correspondence: Incoming correspondence: Requests for payment of a fee by this Office for copying lost documents
- IHTM02094: Correspondence: Incoming correspondence: Letters from HumInts
- IHTM02097: Correspondence: Incoming correspondence: Members of the Royal Family
- Close sectionCorrespondence: Outgoing correspondence
- IHTM02111: Correspondence: Outgoing correspondence: Names and addresses of correspondents
- IHTM02112: Correspondence: Outgoing correspondence: Format of outgoing correspondence
- IHTM02113: Correspondence: Outgoing correspondence: Envelopes
- IHTM02114: Correspondence: Outgoing correspondence: Postal system for mainland UK, Northern Ireland, Channel Islands and Isle of Man
- IHTM02115: Correspondence: Outgoing correspondence: Postal system for all countries outside the UK
- IHTM02116: Correspondence: Outgoing correspondence: Reply paid envelopes
- IHTM02117: Correspondence: Outgoing correspondence: Recorded delivery service or registered post
- Close sectionPersonal applicants
- IHTM02161: Personal applicants: Seeing things from the personal applicants viewpoint
- IHTM02162: Personal applicants: Writing effective letters to personal applicants
- IHTM02163: Personal applicants: Telephone conversations with personal applicants
- IHTM02164: Personal applicants: Potential areas of difiiculty
- IHTM02165: Personal applicants: Cases involving agents where the personal representative becomes involved
- IHTM02166: Personal applicants: Summary
- Close sectionTaxpayers with disabilities/special needs
- IHTM02171: Taxpayers with disabilities/special needs: Introduction
- IHTM02172: Taxpayers with disabilities/special needs: Services to blind and partially sighted taxpayers
- IHTM02173: Taxpayers with disabilities/special needs: Services to deaf and hearing impaired taxpayers
- IHTM02174: Taxpayers with disabilities/special needs: Services for non-English speaking taxpayers
- Close sectionGeneral enquiries
- Close sectionHandling of complaints/compliments
- Close sectionTranslations and non-English speaking customers
- Close sectionIHTM03000: Files: contents
- Close sectionIHTM04000: How Inheritance Tax is charged: contents
- Close sectionSummary
- Close sectionHistory
- Close sectionStructure of the charge
- IHTM04021: Structure of the charge: Main charging provisions
- IHTM04022: Structure of the charge: How a disposition becomes a chargeable transfer
- IHTM04023: Structure of the charge: What is a disposition?
- IHTM04024: Structure of the charge: What is a transfer of value?
- IHTM04025: Structure of the charge: What is a deemed transfer of value?
- IHTM04026: Structure of the charge: What is an exempt transfer?
- IHTM04027: Structure of the charge: What is a chargeable transfer?
- IHTM04028: Structure of the charge: What is the value transferred?
- IHTM04029: Structure of the charge: What makes up a person's estate?
- IHTM04030: Structure of the charge: What is property?
- IHTM04031: Structure of the charge: What is meant by beneficially entitled?
- IHTM04032: Structure of the charge: How the meaning of estate is extended
- IHTM04033: Structure of the charge: How the meaning of estate is restricted
- IHTM04034: Structure of the charge: What is a general power?
- IHTM04035: Structure of the charge: What is general power property?
- Close sectionDormant Asset Scheme
- Close sectionTransfers on death
- IHTM04041: Transfers on death: The charging provisions
- IHTM04042: Transfers on death: Deemed transfer on death
- IHTM04043: Transfers on death: What makes up the estate on death?
- IHTM04044: Transfers on death: What is the value transferred on death?
- IHTM04045: Transfers on death: Valuing property together
- IHTM04046: Transfers on death: Changes in value by reason of death
- Close sectionLifetime transfers
- IHTM04051: Lifetime transfers: The charging provisions
- IHTM04052: Lifetime transfers: What is mean by a person?
- IHTM04053: Lifetime transfers: What is mean by an individual?
- IHTM04054: Lifetime transfers: The loss to the transferor's estate
- IHTM04055: Lifetime transfers: Loss to estate greater than the value of property given
- IHTM04056: Lifetime transfers: Loss to estate less than the value of property given
- IHTM04057: Lifetime transfers: What is a potentially exempt transfer?
- IHTM04058: Lifetime transfers: When is a gift made to another individual or specified trust?
- IHTM04059: Lifetime transfers: When does property become comprised in the estate of an individual?
- IHTM04060: Lifetime transfers: When is the value of another individual's estate increased?
- IHTM04061: Lifetime transfers: Transfers that cannot be potentially exempt transfers
- IHTM04062: Lifetime transfers: Woodlands subject to a deferred Estate Duty charge
- IHTM04063: Lifetime transfers: Deemed transfers that are potentially exempt transfers
- IHTM04064: Lifetime transfers: Deemed potentially exempt transfers
- IHTM04065: Lifetime transfers: Purchase of a policy linked with an annuity
- IHTM04066: Lifetime transfers: What is the value transferred by a potentially exempt transfer?
- IHTM04067: Lifetime transfers: What is an immediately chargeable transfer?
- IHTM04068: Lifetime transfers: Transfer of value by a close company
- IHTM04069: Lifetime transfers: Alteration in share capital of a close company
- IHTM04070: Lifetime transfers: What is the value transferred by an immediately chargeable transfer?
- IHTM04071: Lifetime transfers: Introduction to Gifts with Reservation (GWR)
- IHTM04072: Lifetime transfers: The charging provisions for GWRs
- IHTM04073: Lifetime transfers: What is the value transferred by a GWR?
- Close sectionSettled property
- IHTM04081: Settled property: Introduction
- IHTM04082: Settled property: The charging provisions for an interest in possession trust on death
- IHTM04083: Settled property: The charging provisions for an interest in possession trust during lifetime
- IHTM04084: Settled property: The charge where an interest in possession comes to an end
- IHTM04085: Settled property: The charge where an interest is possession is disposed of
- IHTM04086: Settled property: The charge where the value of settled property is reduced
- IHTM04087: Settled property: Changes to settled property where IHT is not charged on an interest in possession trust
- IHTM04088: Settled property: The charge where an interest in possession comes to end following a potentially exempt transfer
- IHTM04089: Settled property: The charge where a both a close company and an interest in possession are involved
- IHTM04090: Settled property: Transfer of value by a close company apportioned to trustees
- IHTM04091: Settled property: Alteration in a close company's capital apportioned to trustees
- IHTM04092: Settled property: The charge where a close company is entitled to an interest in possession
- IHTM04093: Settled property: What is the value transferred when an interest in possession ceases?
- IHTM04094: Settled property: What valuation issues when an interest is possession ceases
- IHTM04095: Settled property: The charging provisions for discretionary trusts
- IHTM04096: Settled property: Charges on property held in discretionary trusts
- IHTM04097: Settled property: What is value of property held in discretionary trusts on which tax is charged?
- IHTM04098: Settled property: Charges on special trusts
- IHTM04099: Settled property: Charges on accumulation and maintenance trusts
- IHTM04100: Settled property: Charges on employee and newspaper trusts
- IHTM04101: Settled property: Charges on protective trusts
- IHTM04102: Settled property: Charges on trusts for disabled persons
- IHTM04103: Settled property: Charges on temporary charitable trusts
- IHTM04104: Settled property: Maintenance funds for historic buildings
- Close sectionHeritage property
- IHTM04111: Heritage property: Summary
- IHTM04112: Heritage property: When a charge to tax arises
- IHTM04113: Heritage property: Chargeable events under s.32
- IHTM04114: Heritage property: Exceptions to the charge under s.32
- IHTM04115: Heritage property: Chargeable events under s.32A
- IHTM04116: Heritage property: Exceptions to the charge under s.32A
- IHTM04117: Heritage property: Special situations
- IHTM04118: Heritage property: Double charges
- Close sectionWoodlands
- Close sectionProperty excluded from charge
- Close sectionProperty excluded from charge: Dispositions that are not transfers of value
- IHTM04151: Property excluded from charge: Dispositions that are not transfers of value: Introduction
- IHTM04200: Property excluded from charge: Dispositions that are not transfers of value: Dispositions by close companies for the benefit of employees
- IHTM04210: Property excluded from charge: Dispositions that are not transfers of value: Waiver or repayment of an amount of remuneration
- IHTM04220: Property excluded from charge: Dispositions that are not transfers of value: Waiver of dividends
- IHTM04230: Property excluded from charge: Dispositions that are not transfers of value: Grant of an agricultural tenancy
- IHTM04240: Property excluded from charge: Dispositions that are not transfers of value: Changes in the distribution of the deceased's estate
- IHTM04250: Property excluded from charge: Dispositions that are not transfers of value: Refund to trustees of Income Tax repayments received by settlor
- Close sectionProperty excluded from charge: Dispositions not intended to confer bounty
- IHTM04161: Property excluded from charge: Dispositions not intended to confer bounty: Outline of s.10
- IHTM04162: Property excluded from charge: Dispositions not intended to confer bounty: Application of the relief
- IHTM04163: Property excluded from charge: Dispositions not intended to confer bounty: S.10 qualified or excluded
- IHTM04164: Property excluded from charge: Dispositions not intended to confer bounty: Definitions
- IHTM04165: Property excluded from charge: Dispositions not intended to confer bounty: First condition - gift not intended
- IHTM04166: Property excluded from charge: Dispositions not intended to confer bounty: Second condition - arm's length transaction
- IHTM04167: Property excluded from charge: Dispositions not intended to confer bounty: Application to settled property
- Close sectionProperty excluded from charge: Dispositions for the maintenance of the transferor's family
- IHTM04171: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Outline of s.11
- IHTM04172: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Definitions
- IHTM04173: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Maintenance of a spouse of civil partner
- IHTM04175: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Maintenance, etc., of the transferor's children
- IHTM04176: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Maintenance, etc., of other people's children
- IHTM04177: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Care and maintenance of a dependent relative
- IHTM04178: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Meaning of a dependent relative
- IHTM04179: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Meaning on incapacity
- IHTM04180: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Dispositions satisfying s.11 in part
- IHTM04181: Property excluded from charge: Dispositions for the maintenance of the transferor's family: Application to settled property
- Close sectionProperty excluded from charge: Dispositions allowable for income tax or conferring retirement benefits
- IHTM04191: Property excluded from charge: Dispositions allowable for income tax or conferring retirement benefits: Outline of s.12
- IHTM04192: Property excluded from charge: Dispositions allowable for income tax or conferring retirement benefits: Deductions allowable for income tax
- IHTM04193: Property excluded from charge: Dispositions allowable for income tax or conferring retirement benefits: Provision by employers for employee's retirement
- Close sectionProperty excluded from charge: Excluded property
- IHTM04251: Property excluded from charge: Excluded property: Introduction
- IHTM04260: Property excluded from charge: Excluded property: Foreign ‘unsettled’ property
- IHTM04261: Property excluded from charge: Excluded property: Savings of individuals domiciled in Channel Islands or Isle of Man
- IHTM04262: Property excluded from charge: Excluded property: Holdings in Open End Investment Companies (OEICs) and Authorised Unit Trusts (AUT)
- IHTM04263: Property excluded from charge: Excluded property: Decorations, medals and awards
- Close sectionProperty excluded from charge: Foreign settled property
- IHTM04271: Property excluded from charge: Foreign settled property: Introduction
- IHTM04272: Property excluded from charge: Foreign settled property: When the settlement was made
- IHTM04273: Property excluded from charge: Foreign settled property: The settlor's domicile
- IHTM04274: Property excluded from charge: Foreign settled property: Identifying the settled property
- Close sectionProperty excluded from charge: Reversionary interests
- IHTM04281: Property excluded from charge: Reversionary interests: Introduction
- IHTM04282: Property excluded from charge: Reversionary interests: Purchased reversions
- IHTM04283: Property excluded from charge: Reversionary interests: Reversion under own or spouse's/civil partner's settlement
- IHTM04284: Property excluded from charge: Reversionary interests: Lease for life
- IHTM04285: Property excluded from charge: Reversionary interests: Interest subject to an annuity
- IHTM04286: Property excluded from charge: Reversionary interests: Reversions and foreign issues
- Close sectionProperty excluded from charge: Government securities in foreign ownership
- IHTM04291: Property excluded from charge: Government securities in foreign ownership: Introduction
- IHTM04293: Property excluded from charge: Government securities in foreign ownership: Exclusion from the IHT charge
- IHTM04294: Property excluded from charge: Government securities in foreign ownership: Type of security and ownership
- IHTM04295: Property excluded from charge: Government securities in foreign ownership: Ordinary residence
- IHTM04296: Property excluded from charge: Government securities in foreign ownership: Domicile
- IHTM04297: Property excluded from charge: Government securities in foreign ownership: Close company with an interest in possession
- IHTM04298: Property excluded from charge: Government securities in foreign ownership: Relevant property trusts and FOTRA gilts
- IHTM04299: Property excluded from charge: Government securities in foreign ownership: Conversion to FOTRA gilts and the relevant property trust charge
- IHTM04300: Property excluded from charge: Government securities in foreign ownership: Anti-avoidance provsions
- IHTM04301: Property excluded from charge: Government securities in foreign ownership: Exclusion of interest on FOTRA gilts
- IHTM04302: Property excluded from charge: Government securities in foreign ownership: Exclusion of repayment of Income Tax on FOTRA gilts
- IHTM04303: Property excluded from charge: Government securities in foreign ownership: Reversionary interest in FOTRA gilts
- IHTM04304: Property excluded from charge: Government securities in foreign ownership: FOTRA gilts in unadministered estates
- IHTM04305: Property excluded from charge: Government securities in foreign ownership: FOTRA gilts as partnership assets
- IHTM04306: Property excluded from charge: Government securities in foreign ownership: List of FOTRA securities in issue at 5 April 1998
- Close sectionProperty excluded from charge: Property of visiting forces
- IHTM04321: Property excluded from charge: Property of visiting forces: Introduction
- IHTM04322: Property excluded from charge: Property of visiting forces: Qualifying persons
- IHTM04323: Property excluded from charge: Property of visiting forces: Protection of domicile and residence
- IHTM04324: Property excluded from charge: Property of visiting forces: Designated countries
- Close sectionProperty excluded from charge: Value left out of account
- IHTM04331: Property excluded from charge: Value left out of account: Introduction
- IHTM04360: Property excluded from charge: Value left out of account: Settled property to which the settlor's spouse, civil partner, widow(er) or surviving civil partner is entitled
- IHTM04380: Property excluded from charge: Value left out of account: Foreign currency bank accounts
- IHTM04390: Property excluded from charge: Value left out of account: Overseas pensions
- IHTM04410: Property excluded from charge: Value left out of account: Interest in possession as remuneration for services as trustee
- Close sectionProperty excluded from charge: Estate Duty surviving spouse exemption
- IHTM04341: Property excluded from charge: Estate Duty surviving spouse exemption: Introduction
- IHTM04343: Property excluded from charge: Estate Duty surviving spouse exemption: Application on death
- IHTM04344: Property excluded from charge: Estate Duty surviving spouse exemption: Application to lifetime events
- IHTM04345: Property excluded from charge: Estate Duty surviving spouse exemption: Procedures where relief is due
- IHTM04346: Property excluded from charge: Estate Duty surviving spouse exemption: Procedures where relief is not due
- Close sectionProperty excluded from charge: Reverter to settlor
- Close sectionProperty excluded from charge: Woodlands
- IHTM04371: Property excluded from charge: Woodlands: Summary
- IHTM04373: Property excluded from charge: Woodlands: The conditions for relief
- IHTM04374: Property excluded from charge: Woodlands: The death estate
- IHTM04375: Property excluded from charge: Woodlands: The election
- IHTM04376: Property excluded from charge: Woodlands: Beneficial entitlement under special types of interest
- IHTM04377: Property excluded from charge: Woodlands: European Economic Area (EEA) - deaths on or after 22 April 2009
- Close sectionProperty excluded from charge: Compensation for wrongs suffered during World War II
- IHTM04421: Property excluded from charge: Compensation for wrongs suffered during World War II: Ex-gratia payment to Britons held as prisoners of war by the Japanese
- IHTM04422: Property excluded from charge: Compensation for wrongs suffered during World War II: Payments to slave or forced labourers or other victims of the German Nationalist Socialist (Nazi) regime
- IHTM04423: Property excluded from charge: Compensation for wrongs suffered during World War II: How to apply the relief
- Close sectionLegal background
- Close sectionLegal background: Estate Duty surviving spouse exemption
- IHTM04451: Legal background: Estate Duty surviving spouse exemption: Introduction
- IHTM04452: Legal background: Estate Duty surviving spouse exemption: Duty treated as paid in full on the first death
- IHTM04453: Legal background: Estate Duty surviving spouse exemption: Restriction on exemption because of non-payment
- IHTM04454: Legal background: Estate Duty surviving spouse exemption: Part of fund not dutiable on the first death
- IHTM04455: Legal background: Estate Duty surviving spouse exemption: Treatment of income
- IHTM04456: Legal background: Estate Duty surviving spouse exemption: Payment of duty in respect of any settled property since the date of the settlement
- IHTM04457: Legal background: Estate Duty surviving spouse exemption: Meaning of ‘competent to dispose’
- IHTM04458: Legal background: Estate Duty surviving spouse exemption: Powers where the person is competent to dispose
- IHTM04459: Legal background: Estate Duty surviving spouse exemption: Powers where the person is not competent to dispose
- IHTM04460: Legal background: Estate Duty surviving spouse exemption: Powers exercisable to will of deed
- IHTM04461: Legal background: Estate Duty surviving spouse exemption: Power to appropriate capital
- IHTM04462: Legal background: Estate Duty surviving spouse exemption: Benefits under intestacy (England & Wales)
- IHTM04463: Legal background: Estate Duty surviving spouse exemption: Benefits under intestacy and legal rights (Scotland)
- IHTM04464: Legal background: Estate Duty surviving spouse exemption: Examples of competency to dispose
- IHTM04465: Legal background: Estate Duty surviving spouse exemption: Meaning of ‘parties to a marriage’
- Close sectionProperty excluded from charge: Finance (No 2) Act 2017 changes
- IHTM04311: Property excluded from charge: Finance (No 2) Act 2017 changes: UK residential property
- IHTM04312: Property excluded from charge: Finance (No 2) Act 2017 changes: close companies and partnerships
- IHTM04313: Property excluded from charge: Finance (No 2) Act 2017 changes: relevant loans
- IHTM04314: Property excluded from charge: Finance (No 2) Act 2017: disposals of company interests, partnership interests, relevant loans and repayments of relevant loans
- IHTM04315: Property excluded from charge: Finance (No 2) Act 2017 changes: double taxation arrangements
- IHTM04316: Property excluded from charge: Finance (No 2) Act 2017 changes: targeted anti-avoidance rule and Inland Revenue charge
- IHTM04317: Property excluded from charge: Finance (No 2) Act 2017 changes: commencement provisions
- Close sectionIHTM05000: What happens when someone dies?: contents
- Close sectionIntroduction
- Close sectionRequirement for a grant
- Close sectionIs an account required?
- IHTM05021: Is an account required?: Excepted estates
- IHTM05022: Is an account required?: Small Estates Act Confirmation (Scotland only)
- IHTM05023: Is an account required?: Other occasions where forms of account are not appropriate (England, Wales and Northern Ireland)
- IHTM05024: Is an account required?: Initial steps following a death (England, Wales and Northern Ireland)
- IHTM05025: Is an account required?: Initial steps following a death (Scotland)
- IHTM05026: Is an account required?: Procedure for obtaining a grant for an excepted estate (England, Wales and Northern Ireland)
- IHTM05027: Is an account required?: Procedure for obtaining confirmation for an excepted estate or under the Small Estates Acts (Scotland)
- IHTM05028: Is an account required?: Record of the grant
- Close sectionWhat sort of account is required?
- Close sectionCompleting the account
- Close sectionSubmitting the account and obtaining a grant
- IHTM05051: Submitting the account and obtaining a grant: Introduction
- IHTM05052: Submitting the account and obtaining a grant: Procedure where we are asked to calculate the tax
- IHTM05053: Submitting the account and obtaining a grant: Procedure where the personal representative or their agent calculates the tax
- IHTM05056: Submitting the account and obtaining a grant: What happens after the grant is obtained?
- Close sectionParticular aspects that may arise in connection with obtaining a grant
- IHTM05071: Particular aspects that may arise in connection with obtaining a grant: Grants on credit
- IHTM05072: Particular aspects that may arise in connection with obtaining a grant: More than one grant required within the UK
- IHTM05073: Particular aspects that may arise in connection with obtaining a grant: Personal applications (England, Wales and Northern Ireland)
- IHTM05074: Particular aspects that may arise in connection with obtaining a grant: Nil estates (England, Wales and Northern Ireland)
- IHTM05075: Particular aspects that may arise in connection with obtaining a grant: Marking grants (England, Wales and Northern Ireland)
- Close sectionForm Cap A5C (England, Wales and Northern Ireland)
- Close sectionAmendments and changes in circumstances following confirmation (Scotland)
- IHTM05091: Amendments and changes in circumstances following confirmation (Scotland): What happens if there are amendments to the estate declared for confirmation?
- IHTM05092: Amendments and changes in circumstances following confirmation (Scotland): Eik to confirmation
- IHTM05093: Amendments and changes in circumstances following confirmation (Scotland): What to do if you receive an application for an Eik to confirmation
- IHTM05094: Amendments and changes in circumstances following confirmation (Scotland): Death of executors
- IHTM05095: Amendments and changes in circumstances following confirmation (Scotland): Obtaining confirmation ad omissa or confirmation ad non executa
- IHTM05096: Amendments and changes in circumstances following confirmation (Scotland): Review of form X-1 delivered after issue of confirmation ad non executa
- Close sectionTypes of grant
- IHTM05101: Types of grant: Main types of grant (England, Wales and Northern Ireland)
- IHTM05102: Types of grant: Grant of administration de bonis non (England, Wales and Northern Ireland)
- IHTM05103: Types of grant: Other types of grant (England, Wales and Northern Ireland)
- IHTM05104: Types of grant: Confirmation (Scotland)
- IHTM05105: Types of grant: Confirmation ad omissa/ad non executa (Scotland)
- Close sectionExceptions where no grant is needed
- IHTM05111: Exceptions where no grant is needed: Grant recognised in more than one part of the UK
- IHTM05112: Exceptions where no grant is needed: No grant cases
- IHTM05113: Exceptions where no grant is needed: Small estates
- IHTM05114: Exceptions where no grant is needed: Chain of representation (England, Wales and Northern Ireland)
- IHTM05115: Exceptions where no grant needed: National Savings and FOTRA securities
- Close sectionGrants on credit
- IHTM05120: Introduction and statutory background
- IHTM05122: Ways to pay Inheritance Tax
- IHTM05123: What circumstances will HMRC consider?
- IHTM05125: Grants on credit: Potential difficulties
- IHTM05126: Grants on credit: What information do we need from the Personal Representative?
- IHTM05127: Grants on credit: Is a penalty appropriate?
- IHTM05128: Grants on credit: Protecting the charge to tax and post-grant compliance
- IHTM05129: Grants on credit: Protecting the charge to tax: land charges and notices
- IHTM05130: Grants on credit: Protecting the charge to tax: undertakings
- IHTM05131: Grants on credit: Example undertaking
- IHTM05132: Grants on credit: Undertakings involving land
- IHTM05133: Grants on credit: Professional undertakings involving land
- IHTM05134: Grants on credit: Undertakings involving assets abroad
- IHTM05135: Grants on credit: Certificate required by the Probate Registry
- IHTM05136: Grants on credit: Action after the IHT421 or C1 is issued
- IHTM05137: Grants on credit: Cases of genuine hardship
- Close sectionLimited grants
- IHTM05150: Limited grants: Introduction
- IHTM05151: Limited grants: Administration Ad Colligenda Bona
- IHTM05152: Limited grants: Section 113 and 116 Senior Court Act 1981 (SCA81)
- IHTM05153: Limited grants: Information required
- IHTM05154: Limited grants: Protective action
- IHTM05155: Limited grants: Suitably worded letter
- Close sectionCompensation schemes
- IHTM05200: National Coal Board Compensation Scheme
- IHTM05201: Infected Blood Interim Payment Scheme and The Horizon Conviction Redress Scheme (England, Wales & Northern Ireland)
- IHTM05202: Infected Blood Interim Estates Payment Scheme Declaration for deaths before 31 December 1981
- IHTM05203: Infected Blood Interim Payment Scheme and The Horizon Conviction Redress Scheme (Scotland)
- Close sectionIHTM06000: Delivery of accounts - excepted estates, transfers and settlements: contents
- Close sectionIntroduction
- Close sectionExcepted estates: Rules about excepted estates
- IHTM06011: Excepted estates: Rules about excepted estates: What is an excepted estate?
- IHTM06012: Excepted estates: Rules about excepted estates: Low value estates
- IHTM06013: Excepted estates: Rules about excepted estates: Exempt excepted estates
- IHTM06014: Excepted estates: Rules about excepted estates: Restriction of spouse or civil partner exemption in Scotland
- IHTM06016: Excepted estates: Rules about excepted estates: Gross values
- IHTM06017: Excepted estates: Rules about excepted estates: Property situated outside the UK
- IHTM06018: Excepted estates: Rules about excepted estates: Specified transfers
- IHTM06019: Excepted estates: Rules about excepted estates: Specified exempt transfers
- IHTM06020: Excepted estates: Rules about excepted estates: Settled property
- IHTM06021: Excepted estates: Rules about excepted estates: Foreign domiciliaries
- IHTM06023: Excepted estates: Rules about excepted estates: What is not an excepted estate
- IHTM06024: Excepted estates: Rules about excepted estates: When the nil rate band may be doubled by a claim to transfer unused nil rate band
- IHTM06025: Excepted estates: Rules about excepted estates: Making a claim to transfer unused nil rate band
- IHTM06026: Excepted estates: Rules about excepted estates: Examples where transferable nil rate band applies
- IHTM06027: Excepted estates: Rules about excepted estates: Restriction of normal expenditure out of income exemption
- IHTM06028: Excepted estates: Rules about excepted estates: Treatment of liabilities
- Close sectionExcepted estates: General procedural matters
- IHTM06031: Excepted estates: General procedural matters: Requirement to deliver information
- IHTM06032: Excepted estates: General procedural matters: Accounts from trustees
- IHTM06033: Excepted estates: General procedural matters: Valuation of assets
- IHTM06034: Excepted estates: General procedural matters: Notifying amendments
- IHTM06035: Excepted estates: General procedural matters: Instruments of Variation and excepted estates
- Close sectionExcepted estates: Monitoring the excepted estate rules
- IHTM06041: Excepted estates: Monitoring the excepted estate rules: Sample cases
- IHTM06042: Excepted estates: Monitoring the excepted estate rules: The prescribed period
- IHTM06043: Excepted estates: Monitoring the excepted estate rules: Automatic discharge
- IHTM06044: Excepted estates: Monitoring the excepted estate rules: Automatic discharge for trustees
- IHTM06046: Excepted estates: Monitoring the excepted estate rules: Action in Compliance Group
- IHTM06047: Excepted estates: Monitoring the excepted estate rules: Contacting personal representatives outside the prescribed period
- IHTM06048: Excepted estates: Monitoring the excepted estate rules: No grant cases
- Close sectionExcepted estates: Non sample cases
- Close sectionExcepted estates: Miscellaneous matters
- IHTM06060: Excepted estates: Miscellaneous matters: Record of excepted estates
- IHTM06061: Excepted estates: Miscellaneous matters: Correspondence in connection with other estates
- IHTM06062: Excepted estates: Miscellaneous matters: Marking grants
- IHTM06063: Excepted estates: Miscellaneous matters: No grant cases
- Close sectionExcepted transfers and terminations
- IHTM06100: Excepted transfers and terminations: Introduction
- IHTM06101: Excepted transfers and terminations: Qualifying trusts
- IHTM06102: Excepted transfers and terminations: Qualifying transactions
- IHTM06103: Excepted transfers and terminations: Value transferred attributable to cash or quoted shares or securities
- IHTM06104: Excepted transfers and terminations: Value transferred attributable to property other than cash or quoted shares or securities
- IHTM06105: Excepted transfers and terminations: Value transferred attributable to insurance linked products
- IHTM06106: Excepted transfers and terminations: Operation of the regulations with normal expenditure out of income exemption
- IHTM06107: Excepted transfers and terminations: Where the value transferred on termination of a life interest does not exceed any exemptions that are available
- IHTM06108: Excepted transfers and terminations: Statutory clearance
- IHTM06109: Excepted transfers and terminations: Requirement to deliver an account
- IHTM06110: Excepted transfers and terminations: Accounts delivered for transfers that qualify as excepted transfers or terminations
- IHTM06111: Excepted transfers and terminations: Death of the transferor
- IHTM06113: Excepted transfers and terminations: Regulations for transfers and terminations prior to 6 April 2007
- Close sectionExcepted settlements
- IHTM06120: Excepted settlements: Introduction
- IHTM06121: Excepted settlements: Qualifying occasions of charge
- IHTM06122: Excepted settlements: Pilot trusts
- IHTM06123: Excepted settlements: General conditions
- IHTM06124: Excepted settlements: Ten year charge
- IHTM06125: Excepted settlements: Proportionate charge
- IHTM06126: Excepted settlements: Age 18 to 25 settlements
- IHTM06127: Excepted settlements: Statutory clearance
- IHTM06128: Excepted settlements: Requirement to deliver an account
- IHTM06129: Excepted settlements: Accounts delivered for transfers that qualify as excepted transfers or terminations
- IHTM06130: Excepted settlements: Death of the transferor
- Close sectionIHTM09000: Investigating accounts and principles of valuation: contents
- Close sectionSummary
- Close sectionInvestigation: Investigating accounts
- IHTM09021: Investigation: Investigating accounts: Purpose
- IHTM09022: Investigation: Investigating accounts: General approach
- IHTM09023: Investigation: Investigating accounts: Best practice
- IHTM09035: Investigation: Investigating accounts: Estimated values
- IHTM09036: Investigation: Investigating accounts: Exempt or partly exempt estates
- IHTM09061: Investigation: Investigating accounts: Analysing bank statements
- IHTM09062: Investigation: Investigating accounts: Meetings with taxpayers
- IHTM09080: Investigation: Investigating accounts: Failure to reach an agreement with taxpayers
- Close sectionInvestigation: Raising enquiries
- Close sectionInvestigation: Negotiating a settlement
- Close sectionInvestigation: Investigating no-grant cases
- IHTM09091: Investigation: Investigating no-grant cases: Introduction
- IHTM09100: Investigation: Investigating no-grant cases: Initial research and information gathering
- IHTM09102: Investigation: Investigating no-grant cases: Approaching the accountable or liable persons
- IHTM09103: Investigation: Investigating no-grant cases: Accountable persons not identified
- IHTM09104: Investigation: Investigating no-grant cases: Failure to comply with request to deliver an account
- IHTM09105: Investigation: Investigating no-grant cases: What to do when you receive an account
- Close sectionInvestigation: Avoidance
- Close sectionInvestigation: Ascertained values
- Close sectionInvestigation: Information sources
- Close sectionInvestigation: Tax files
- Close sectionInvestigation: Taxpayer and Third Party (Information) Notices
- Close sectionInvestigation: How to use third party information
- Close sectionInvestigation: Obtaining mandates
- Close sectionInvestigation: Third party information and the Data Protection Act 1998
- IHTM09391: Investigation: Third party information and the Data Protection Act 1998: Introduction
- IHTM09392: Investigation: Third Party Information and the Data Protection Act 1998: main provisions of the Data Protection Act 1998
- IHTM09393: Investigation: Third party information and the Data Protection Act 1998: Information you can ask for without falling foul of the non-disclosure provisions
- IHTM09394: Investigation: Third party information and the Data Protection Act 1998: Handling information obtained
- Close sectionInvestigation: Certificates of full disclosure and corrective accounts
- IHTM09521: Investigation: Certificates of full disclosure and corrective accounts: General
- IHTM09522: Investigation: Certificates of full disclosure and corrective accounts: When to ask for a certificate or account
- IHTM09523: Investigation: Certificates of full disclosure and corrective accounts: Issuing a certificate or corrective account
- IHTM09540: Investigation: Certificates of full disclosure and corrective accounts: Receiving the completed account or certificate
- Close sectionInvestigation: Examples of statements and certificates of full disclosure
- IHTM09531: Investigation: Examples of statements and certificates of full disclosure: Statement to be issued with a corrective account
- IHTM09532: Investigation: Examples of statements and certificates of full disclosure: Certificate of full disclosure
- IHTM09533: Investigation: Examples of statements and certificates of full disclosure: Statement on the reverse of a certificate of full disclosure
- Close sectionValuation: Introduction
- Close sectionValuation: Valuing property in an estate
- IHTM09711: Valuation: Valuing property in an estate: General principles
- IHTM09712: Valuation: Valuing property in an estate: Valuing property together
- IHTM09713: Valuation: Valuing property in an estate: Including property otherwise left out of account for tax purposes
- IHTM09714: Valuation: Valuing property in an estate: Authority for valuing items of property together
- IHTM09715: Valuation: Valuing property in an estate: Valuing items of property separately
- Close sectionValuation: Related property
- IHTM09731: Valuation: Related property: Introduction
- IHTM09732: Valuation: Related property: How the rules work
- IHTM09733: Valuation: Related property: Definition of related property
- IHTM09734: Valuation: Related property: Apportionment of aggregate value
- IHTM09735: Valuation: Related property: The general rule for calculating the appropriate portion
- IHTM09736: Valuation: Related property: The special rule for calculating the appropriate portion
- IHTM09737: Valuation: Related property: When to use the special rule?
- IHTM09738: Valuation: Related property: What happens when both the general and special rules apply?
- IHTM09739: Valuation: Related property: Property owned jointly by husband and wife, or civil partners
- Close sectionValuation: Sales of related property etc
- IHTM09751: Valuation: sales of related property etc: Introduction
- IHTM09752: Valuation: sales of related property etc: What the relief does
- IHTM09753: Valuation: sales of related property etc: What the relief does not do
- IHTM09754: Valuation: sales of related property etc: Conditions for relief
- IHTM09755: Valuation: sales of related property etc: Property that qualifies for relief
- IHTM09756: Valuation: sales of related property etc: Who may make sales?
- IHTM09757: Valuation: sales of related property etc: Sales may not be made in conjunction with the sale of related or other property with which it was originally valued
- IHTM09758: Valuation: sales of related property etc: No connection between vendor and purchaser
- IHTM09759: Valuation: sales of related property etc: Vendors must not acquire rights to sold property
- IHTM09760: Valuation: sales of related property etc: Price obtained on sale must be less than the original value
- IHTM09761: Valuation: sales of related property etc: Sales of shares in companies
- IHTM09762: Valuation: sales of related property etc: Relationship between s.176 and loss on sale of shares relief
- IHTM09763: Valuation: sales of related property etc: Example of how to revalue property when both the loss on sale of land and sales of related property provisions apply
- Close sectionValuation: Restrictions on the freedom to dispose of assets
- IHTM09771: Valuation: Restrictions on the freedom to dispose of assets: Introduction
- IHTM09772: Valuation: Restrictions on the freedom to dispose of assets: General rule for ignoring a restriction
- IHTM09773: Valuation: Restrictions on the freedom to dispose of assets: What is a relevant event?
- IHTM09774: Valuation: Restrictions on the freedom to dispose of assets: Consideration given for the restriction
- IHTM09775: Valuation: Restrictions on the freedom to dispose of assets: No consideration given
- IHTM09776: Valuation: Restrictions on the freedom to dispose of assets: Contracts made before 27 March 1974
- IHTM09777: Valuation: Restrictions on the freedom to dispose of assets: Option to purchase is exercised
- Close sectionIHTM10000: IHT accounts and accountability: contents
- Close sectionSummary
- Close sectionIHT accounts
- Close sectionIHT400
- IHTM10021: IHT400: Introduction
- IHTM10022: IHT400: What is included in the account
- IHTM10030: IHT400: Deceased's details (pages 1 and 2)
- IHTM10031: IHT400: Deceased domiciled in Scotland (page 2)
- IHTM10032: IHT400: Contact details of person dealing with the estate and repayment authority (page 3)
- IHTM10033: IHT400: Deceased's Will (page 3)
- IHTM10034: IHT400: Items referred to in the Will but not included in the estate (page 4)
- IHTM10035: IHT400: Supplementary Schedules (pages 1, 4 and 5)
- IHTM10036: IHT400: Estate in the UK - jointly owned assets (page 6)
- IHTM10037: IHT400: Estate in the UK - assets owned outright by the deceased (pages 6 and 7)
- IHTM10038: IHT400: Deductions from the estate in the UK incurred up to the date of death (pages 8 and 9)
- IHTM10039: IHT400: Exemptions and reliefs (pages 9 and 10)
- IHTM10040: IHT400: Other assets taken into account to calculate the tax (page 10)
- IHTM10041: IHT400: Working out the tax and the simple calculation (page 11)
- IHTM10042: IHT400: Direct Payment scheme (page 12)
- IHTM10043: IHT400: Declaration (pages 12 and 13)
- IHTM10044: IHT400: Checklist (page14)
- IHTM10045: IHT400: Additional information pages (pages 15 and 16)
- Close sectionIHT400: Investigating the deceased's personal details
- IHTM10050: IHT400: Investigating the deceased's personal details: Domicile (box 6)
- IHTM10051: IHT400: Investigating the deceased's personal details: Surviving spouse or civil partner (box 8)
- IHTM10052: IHT400: Investigating the deceased's personal details: Last known permanent address (boxes 11 and 12)
- IHTM10053: IHT400: Investigating the deceased's personal details: Nursing and residential homes (box 12)
- IHTM10054: IHT400: Investigating the deceased's personal details: Occupation (box 13)
- IHTM10055: IHT400: Investigating the deceased's personal details: Power of attorney (box 16)
- IHTM10056: IHT400: Investigating the deceased's personal details: Deceased's Will
- Close sectionIHT400: Investigating the assets on page 6
- IHTM10060: IHT400: Investigating the assets on page 6: Deceased's residence (box 51)
- IHTM10061: IHT400: Investigating the assets on page 6: Cash (box 53)
- IHTM10062: IHT400: Investigating the assets on page 6: Household and personal goods (box 55)
- IHTM10063: IHT400: Investigating the assets on page 6: Pensions (box 56)
- IHTM10064: IHT400: Investigating the assets on page 6: Life assurance and mortgage protection policies (box 57)
- Close sectionIHT400: Bank and building society accounts (box 52)
- IHTM10070: IHT400: Bank and building society accounts (box 52): What accounts are included?
- IHTM10071: IHT400: Bank and building society accounts (box 52): Investigating values
- IHTM10072: IHT400: Bank and building society accounts (box 52): Valuing entitlements arising from take-overs, mergers and flotations of building societies and other mutual organisations
- IHTM10073: IHT400: Bank and building society accounts (box 52): Valuation of compensation rights on failure of bank or building society
- Close sectionIHT400: Premium Bonds (box 54)
- Close sectionIHT400: National Savings investments (box 54)
- Close sectionIHT400: Investigating the assets on page 7
- IHTM10101: IHT400: Investigating the assets on page 7: Stocks and shares (boxes 62 to 67)
- IHTM10102: IHT400: Investigating the assets on page 7: Farms, farmhouses and farmland (box 68)
- IHTM10103: IHT400: Investigating the assets on page 7: Businesses including farm businesses and timber (box 69)
- IHTM10104: IHT400: Investigating the assets on page 7: Other land, buildings and rights over land (box 70)
- IHTM10105: IHT400: Investigating the assets on page 7: Interest in another estate (boxes 71 and 72)
- IHTM10106: IHT400: Investigating the assets on page 7: Debts due to the estate (box 73)
- IHTM10107: IHT400: Investigating the assets on page 7: Income Tax or Capital Gains Tax repayment (box 74)
- IHTM10108: IHT400: Investigating the assets on page 7: Trust income due to the deceased (box 75)
- Close sectionIHT400: Other income and assets due to the deceased (box 76)
- Close sectionIHT400: Other income due to the deceased (box 76)
- IHTM10120: IHT400: Other income due to the deceased (box 76): General
- IHTM10121: IHT400: Other income due to the deceased (box 76): Barrister's fees
- IHTM10122: IHT400: Other income due to the deceased (box 76): Civil Service pay and pensions
- IHTM10123: IHT400: Other income due to the deceased (box 76): Redundancy payments
- IHTM10124: IHT400: Other income due to the deceased (box 76): Rents due to the deceased
- IHTM10125: IHT400: Other income due to the deceased (box 76): Retrospective pay awards
- Close sectionIHT400: Other assets due to the deceased
- IHTM10151: IHT400: Other assets due to the deceased: General
- IHTM10152: IHT400: Other assets due to the deceased: Interest in expectancy
- IHTM10153: IHT400: Other assets due to the deceased: Private health schemes
- IHTM10154: IHT400: Other assets due to the deceased: Compulsory acquisition of land
- IHTM10155: IHT400: Other assets due to the deceased: Copyrights, royalties, etc.
- IHTM10156: IHT400: Other assets due to the deceased: Damages or claims for damages
- IHTM10157: IHT400: Other assets due to the deceased: Deferred legacies
- IHTM10158: IHT400: Other assets due to the deceased: Grants from the Compensation Fund of the Law Society and Scottish Solicitors' Guarantee Fund
- IHTM10159: IHT400: Other assets due to the deceased: Property subject to a binding contract for sale
- IHTM10160: IHT400: Other assets due to the deceased: School composition fees
- IHTM10161: IHT400: Other assets due to the deceased: Council Tax rebanding
- Close sectionIHT400: Certificates of Tax Deposit
- Close sectionIHT400: Compensation payments
- IHTM10260: IHT400: Compensation Payments: General
- IHTM10261: IHT400: Compensation payments: Compensation for discrimination
- IHTM10262: IHT400: Compensation payments: Compensation for Holocaust victims
- IHTM10263: IHT400: Compensation payments: Compensation for personal injuries on death
- IHTM10264: IHT400: Compensation payments: Compensation payments under the Law Reform (Miscellaneous Provisions) Act 1934
- IHTM10265: IHT400: Compensation payments: Compensation under the Fatal Accidents and National Insurance (Industrial Injuries) Acts
- IHTM10266: IHT400: Compensation payments: Ex gratia payments for Tort committed by a member of the Armed Forces of the Crown or the United States' Forces
- IHTM10267: IHT400: Compensation payments: ex gratia compensation payments made by the Criminal Injuries Compensation Authority
- IHTM10268: IHT400: Compensation payments: Payments under Damages (Scotland) Act 1976
- IHTM10269: IHT400: Compensation payments: Compensation for industrial injuries to coal miners
- IHTM10270: IHT400: Compensation payments: Compensation payments under the NHS Health Care Scheme
- IHTM10271: IHT400: Compensation payments: Equitable Life Compensation Payments
- IHTM10272: IHT400: Compensation Payments: Payment Protection Insurance (PPI)
- IHTM10280: IHT400: Compensation payments: Statutory Compensation Scheme Payments
- IHTM10281: IHT400: Compensation payments: Windrush Compensation Scheme
- IHTM10282: IHT400: Compensation Payments: The Troubles Permanent Disablement Payment Scheme
- IHTM10283: IHT400: Compensation Payments: Post Office Horizon Compensation Schemes
- IHTM10284: IHT400: Compensation Payments: Infected Blood Interim Compensation Payment Scheme (IBICPS)
- Close sectionIHT400: Legal rights (Scotland)
- IHTM10300: IHT400: Legal rights (Scotland): Introduction
- IHTM10301: IHT400: Legal rights (Scotland): Valuation under the general law
- IHTM10302: IHT400: Legal rights (Scotland): Valuing legal rights as an asset of the estate
- IHTM10303: IHT400: Legal rights (Scotland): Valuing legal rights as a debt of the estate
- IHTM10304: IHT400: Legal rights (Scotland): For IHT purposes
- IHTM10305: IHT400: Legal rights (Scotland): Interest on legal rights
- Close sectionIHT400: Share options
- Close sectionIHT400: Deductions from the estate
- Close sectionIHT400: Funeral expenses (box 81)
- IHTM10371: IHT400: Funeral expenses (box 81): Introduction and general approach
- IHTM10372: IHT400: Funeral expenses (box 81): Flowers
- IHTM10373: IHT400: Funeral expenses (box 81): Gravestones and memorials
- IHTM10374: IHT400: Funeral expenses (box 81): Memorial services
- IHTM10375: IHT400: Funeral expenses (box 81): Mourning expenses
- IHTM10376: IHT400: Funeral expenses (box 81): Overseas funerals of non-domiciled deceased
- IHTM10377: IHT400: Funeral expenses (box 81): Refreshments
- IHTM10378: IHT400: Funeral expenses (box 81): Transport and embalming costs
- IHTM10379: IHT400: Funeral expenses (box 81): Travelling and accommodation expenses
- Close sectionIHT400: Other deductions from the chargeable estate
- Close sectionIHT400: Checking the declaration (box 119)
- IHTM10461: IHT400: Checking the declaration (box 119): Grant of representation
- IHTM10462: IHT400: Checking the declaration (box 119): Supplementary Schedules
- IHTM10463: IHT400: Checking the declaration (box 119): Estimated values
- IHTM10464: IHT400: Checking the declaration (box 119): Personal representatives
- Close sectionIHT400: Reduced account
- IHTM10471: IHT400: Reduced account: Purpose
- IHTM10472: IHT400: Reduced account: Conditions
- IHTM10473: IHT400: Reduced account: What supplementary pages may be left out
- IHTM10474: IHT400: Reduced account: When may a value be estimated?
- IHTM10475: IHT400: Reduced account: Dealing with a reduced account
- IHTM10476: IHT400: Reduced account: Incorrect delivery of a reduced account
- IHTM10477: IHT400: Reduced account: Penalties for incorrect delivery of a reduced account
- IHTM10478: IHT400: Reduced account: Effect of instrument of variation
- IHTM10479: IHT400: Reduced account: Replacing estimated values of property now chargeable
- Close sectionIHT100 (2003 onwards)
- Close sectionIHT100 (2003 onwards): Investigating supplementary form
- IHTM10685: IHT100 (2003 onwards): Investigating supplementary form: D31 - Domicile outside the United Kingdom
- IHTM10686: IHT100 (2003 onwards): Investigating supplementary form: D32 - Stocks and shares
- IHTM10687: IHT100 (2003 onwards): Investigating supplementary form: D33 - Debts due to the settlement
- IHTM10688: IHT100 (2003 onwards): Investigating supplementary form: D34 - Insurance
- IHTM10689: IHT100 (2003 onwards): Investigating supplementary form: D35 - Household and personal goods
- IHTM10690: IHT100 (2003 onwards): Investigating supplementary form: D36 - Land and buildings - interests in land - trees or underwood
- IHTM10691: IHT100 (2003 onwards): Investigating supplementary form: D37 - Agricultural relief
- IHTM10692: IHT100 (2003 onwards): Investigating supplementary form: D38 - Business relief
- IHTM10693: IHT100 (2003 onwards): Investigating supplementary form: D39 - Foreign assets
- IHTM10694: IHT100 (2003 onwards): Investigating supplementary form: D40 - Other information
- Close sectionCorrective account (C4) England, Wales and Northern Ireland
- IHTM10701: Corrective account (C4) England, Wales and Northern Ireland: Introduction
- IHTM10702: Corrective account (C4) England, Wales and Northern Ireland: When is an account required (England, Wales and Northern Ireland)?
- IHTM10703: Corrective account (C4) England, Wales and Northern Ireland: Who should complete and sign the account?
- IHTM10704: Corrective account (C4) England, Wales and Northern Ireland: Page 1
- IHTM10705: Corrective account (C4) England, Wales and Northern Ireland: Pages 2 and 3
- IHTM10706: Corrective account (C4) England, Wales and Northern Ireland: Page 4
- Close sectionCorrective account (C4) Scotland
- IHTM10751: Corrective account (C4) Scotland: When is an account required (Scotland)?
- IHTM10752: Corrective account (C4) Scotland: Who should complete and sign the account?
- IHTM10753: Corrective account (C4) Scotland: Page 1
- IHTM10754: Corrective account (C4) Scotland: Pages 2 and 3
- IHTM10755: Corrective account (C4) Scotland: Page 4
- IHTM10756: Corrective account (C4) Scotland: What to do when you receive a corrective account
- Close sectionAccountability
- IHTM10801: Accountability: Introduction
- IHTM10802: Accountability: What is to be included in an account?
- IHTM10803: Accountability: Time limits
- IHTM10804: Accountability: When is an account not required?
- IHTM10805: Accountability: Corrective accounts
- IHTM10806: Accountability: Telling us about amendments
- Close sectionAccountability: Transfers on death
- Close sectionAccountability: Lifetime transfers
- IHTM10821: Accountability: Lifetime transfers: Potentially exempt transfers (PETs)
- IHTM10822: Accountability: Lifetime transfers: Transfers that are chargeable when made
- IHTM10823: Accountability: Lifetime transfers: Excepted transfers
- IHTM10824: Accountability: Lifetime transfers: Gift with reservation (GWR)
- Close sectionAccountability: Settled property
- IHTM10831: Accountability: Settled property: General rules on accountability when there is a qualifying interest in possession
- IHTM10832: Accountability: Settled property: Transfers on death
- IHTM10833: Accountability: Settled property: Lifetime transfers
- IHTM10834: Accountability: Settled property: Excepted terminations
- IHTM10835: Accountability: Settled property: Discharge for an excepted termination
- IHTM10836: Accountability: Settled property: Relevant property settlements, including maintenance funds
- IHTM10840: Accountability: Recapture charges for heritage property and woodlands
- IHTM10850: Accountability: Instruments of variation
- Close sectionIHTM11000: Exemptions: contents
- Close sectionIntroduction
- Close sectionGroups of exempt transfers
- IHTM11011: Groups of exempt transfers: Introduction
- IHTM11012: Groups of exempt transfers: Lifetime and death transfers
- IHTM11013: Groups of exempt transfers: Quantifying the exemption
- IHTM11014: Groups of exempt transfers: Transfers of Heritage property
- IHTM11015: Groups of exempt transfers: Transfers on death only
- Close sectionGeneral procedure
- IHTM11021: General procedure: Handling a claim for exemption
- IHTM11022: General procedure: Basic requirements for exemption
- IHTM11023: General procedure: Situations where the exemption can be accepted without investigation
- IHTM11024: General procedure: Calculations
- IHTM11025: General procedure: Claims against the deceased's estate (England and Wales)
- IHTM11026: General procedure: Restriction of exemption where the beneficiary settles a claim against the deceased's estate from their own resources (England and Wales)
- Close sectionSpouse or civil partner exemption
- Close sectionSpouse or civil partner exemption: General procedure for death transfers
- IHTM11041: Spouse or civil partner exemption: General procedure for death transfers: Initial steps
- IHTM11042: Spouse or civil partner exemption: General procedure for death transfers: Special points to look out for
- IHTM11049: Spouse or civil partner exemption: General procedure for death transfers: Changes to the devolution of property after the death
- Close sectionSpouse or civil partner exemption: Settled property
- IHTM11061: Spouse or civil partner exemption: Settled property: Exemption where the transferor creates an interest in possession for their spouse or civil partner
- IHTM11062: Spouse or civil partner exemption: Settled property: What happens when an interest in possession devolves to the spouse or civil partner
- IHTM11063: Spouse or civil partner exemption: Settled property: Exclusion from exemption in connection with a reversionary interest
- IHTM11064: Spouse or civil partner exemption: Settled property: What to do where the surviving spouse or civil partner opts for a capital sum instead of a life interest under the intestacy rules
- Close sectionSpouse or civil partner exemption: Annuity to spouse or civil partner
- IHTM11071: Spouse or civil partner exemption: Annuity to spouse or civil partner: Introduction
- IHTM11072: Spouse or civil partner exemption: Annuity to spouse or civil partner: Annuity payable out of the income of the estate
- IHTM11073: Spouse or civil partner exemption: Annuity to spouse or civil partner: Property charged with or appropriated for payment
- IHTM11074: Spouse or civil partner exemption: Annuity to spouse or civil partner: Annuity to be purchased
- IHTM11075: Spouse or civil partner exemption: Annuity to spouse or civil partner: Annuity secured by personal covenant
- IHTM11076: Spouse or civil partner exemption: Annuity to spouse or civil partner: Annuity payable by the surviving partners of a business
- IHTM11077: Spouse or civil partner exemption: Annuity to spouse or civil partner: Annuities of variable amounts
- Close sectionSpouse or civil partner exemption: Exceptions where the exemption does not apply
- IHTM11091: Spouse or civil partner exemption: Exceptions where the exemption does not apply: Introduction
- IHTM11092: Spouse or civil partner exemption: Exceptions where the exemption does not apply: Postponed gifts
- IHTM11093: Spouse or civil partner exemption: Exceptions where the exemption does not apply: Conditional gifts
- IHTM11094: Spouse or civil partner exemption: Exceptions where the exemption does not apply: Payments under I(PFD)A Orders
- IHTM11095: Spouse or civil partner exemption: Exceptions where the exemption does not apply: Acquisition of a reversion
- Close sectionGifts to charities and registered clubs
- Close sectionGifts to charities and registered clubs: General outline
- IHTM11111: Gifts to charities and registered clubs: General outline: Requirements for exemption
- IHTM11112: Gifts to charities and registered clubs: General outline: Meaning of ‘charity’ and ‘charitable’
- IHTM11113: Gifts to charities and registered clubs: General outline: ‘Charitable status’ and date for determining status
- IHTM11114: Gifts to charities and registered clubs: General outline: Quantifying the exemption
- IHTM11115: Gifts to charities and registered clubs: General outline: Established for charitable purposes
- IHTM11116: Gifts to charities and registered clubs: General outline: The jurisdiction condition
- IHTM11117: Gifts to charities and registered clubs: General outline: The registration condition
- IHTM11118: Gifts to charities and registered clubs: General outline: The management condition
- Close sectionGifts to charities and registered clubs: Procedure
- IHTM11124: Gifts to charities and registered clubs: Procedure: Straightforward gifts and acceptable bequests
- IHTM11125: Gifts to charities and registered clubs: Procedure: Referrals to Technical
- IHTM11126: Gifts to charities and registered clubs: Procedure: Identifying the beneficiary
- IHTM11127: Gifts to charities and registered clubs: Procedure: Examples of gifts where the beneficiary is not a charity
- IHTM11128: Gifts to charities and registered clubs: Procedure: Beneficiaries outside the UK
- IHTM11129: Gifts to charities and registered clubs: Procedure: Selection trusts
- IHTM11130: Gifts to charities and registered clubs: Procedure: Newly created charities
- IHTM11132: Gifts to charities and registered clubs: Procedure: The Charities Aid Foundation
- IHTM11133: Gifts to charities and registered clubs: Procedure: Special situations
- IHTM11134: Gifts to charities and registered clubs: Procedure: Types of gift where it is doubtful exemption will apply
- IHTM11135: Gifts to charities and registered clubs: Procedure: Categories of gift accepted as exempt in limited circumstances
- IHTM11139: Gifts to charities and registered clubs: Procedure: Household and personal goods donated to charity (Form IHT408)
- Close sectionGifts to charities and registered clubs: Community Amateur Sports Clubs (CASCs)
- IHTM11140: Gifts to charities and registered clubs: Community Amateur Sports Clubs (CASCs): Meaning of Community Amateur Sports Clubs (CASCs) and ‘registered club’
- IHTM11141: Gifts to charities and registered clubs: Community Amateur Sports Clubs (CASCs): The local condition
- IHTM11142: Gifts to charities and registered clubs: Community Amateur Sports Clubs (CASCs): The management condition
- Close sectionGifts to charities and registered clubs: Settled property
- IHTM11161: Gifts to charities and registered clubs: Settled property: Background
- IHTM11162: Gifts to charities and registered clubs: Settled property: Purchase of a reversionary interest from a charity (anti-avoidance)
- IHTM11163: Gifts to charities and registered clubs: Settled property: Purchase of a reversionary interest by a charity between April 1976 and April 1978 (anti-avoidance)
- IHTM11164: Gifts to charities and registered clubs: Settled property: Purchase of a reversionary interest by a charity after 12 April 1978 (anti-avoidance)
- Close sectionGifts to charities and registered clubs: Exclusions from exemption
- IHTM11171: Gifts to charities and registered clubs: Exclusions from exemption: Introduction
- IHTM11172: Gifts to charities and registered clubs: Exclusions from exemption: Gifts not limited to charitable and other exempt purposes
- IHTM11173: Gifts to charities and registered clubs: Exclusions from exemption: Defeasible gifts
- IHTM11174: Gifts to charities and registered clubs: Exclusions from exemption: Postponed gifts
- IHTM11175: Gifts to charities and registered clubs: Exclusions from exemption: Conditional gifts
- IHTM11176: Gifts to charities and registered clubs: Exclusions from exemption: Gift less than donor's whole interest or for a limited period
- IHTM11177: Gifts to charities and registered clubs: Exclusions from exemption: Interest reserved or created - land or buildings
- IHTM11178: Gifts to charities and registered clubs: Exclusions from exemption: Interest reserved or created - property other than land
- Close sectionGifts to political parties
- IHTM11191: Gifts to political parties: Introduction
- IHTM11192: Gifts to political parties: Quantifying the exemption
- IHTM11193: Gifts to political parties: Requirements for exemption
- IHTM11194: Gifts to political parties: Gifts to the Conservative party
- IHTM11195: Gifts to political parties: Gifts to the Liberal Democrats
- IHTM11196: Gifts to political parties: Requirements for a qualifying political party
- IHTM11197: Gifts to political parties: Qualifying political parties
- Close sectionGifts to registered housing associations
- Close sectionGifts for National Purposes
- IHTM11221: Gifts for National Purposes: Introduction
- IHTM11222: Gifts for National Purposes: Procedure
- IHTM11223: Gifts for National Purposes: Qualifications specific to the exemption
- IHTM11224: Gifts for National Purposes: Qualifying Bodies
- IHTM11225: Gifts for National Purposes: Local authority
- IHTM11226: Gifts for National Purposes: Government department
- IHTM11227: Gifts for National Purposes: A health service body
- Close sectionExemptions
- Close sectionDeath of armed forces or emergency service personnel
- Close sectionEmergency service personnel responding to emergency circumstances
- IHTM11291: Emergency service personnel responding to emergency circumstances: introduction
- IHTM11292: Emergency service personnel responding to emergency circumstances: meaning of emergency responder
- IHTM11293: Emergency service personnel responding to emergency circumstances: meaning of emergency circumstances
- IHTM11294: Emergency service personnel responding to emergency circumstances: meaning of responding to emergency circumstances
- IHTM11295: Emergency service personnel responding to emergency circumstances: evidence to show exemption is due
- Close sectionArmed forces on active service
- IHTM11301: Armed forces on active service: introduction
- IHTM11302: Armed forces of active service: meaning of armed forces
- IHTM11303: Armed forces on active service: meaning of active service
- IHTM11304: Armed forces on active service: evidence to show exemption is due
- IHTM11305: Armed forces on active service: extension to the Police Service of Northern Ireland
- IHTM11306: Armed forces on active service: Estate Duty exemption and transferrable nil-rate band
- IHTM11307: Armed forces on active service: Estate Duty exemption and settled property
- Close sectionConstables and service personnel targeted because of their job
- IHTM11311: Constables and service personnel targeted because of their job: summary
- IHTM11312: Constables and service personnel targeted because of their job: meaning of constables and service personnel
- IHTM11313: Constables and service personnel targeted because of their job: evidence to show exemption is due
- Close sectionIHTM12000: Succession: contents
- Close sectionSummary
- Close sectionWills
- IHTM12041: Wills: What is a Will?
- IHTM12042: Wills: Characteristics of a Will
- IHTM12043: Wills: Requirements for making a valid Will
- IHTM12044: Wills: Formalities required to make a valid Will
- IHTM12045: Wills: Capacity required to make a valid Will
- IHTM12046: Wills: Privileged Wills
- IHTM12047: Wills: Scottish Wills
- Close sectionWills: Construction of wills
- IHTM12051: Wills: Construction of wills: General approach
- IHTM12052: Wills: Construction of wills: Principles of construction
- IHTM12053: Wills: Construction of wills: Meaning of words and phrases
- IHTM12054: Wills: Construction of wills: Inconsistent clauses
- IHTM12055: Wills: Construction of wills: Extrinsic evidence
- IHTM12056: Wills: Construction of wills: Rectification of Wills (England & Wales)
- IHTM12057: Wills: Construction of wills: Rectification of Wills (Scotland)
- Close sectionWills: Joint and Mutual wills
- Close sectionWills: Revocation of a will
- IHTM12071: Wills: Revocation of a will: Introduction
- IHTM12072: Wills: Revocation of a will: By subsequent Will or codicil (England & Wales, Northern Ireland)
- IHTM12072A: Wills: Revocation of a Will: By subsequent Will or codicil (Scotland)
- IHTM12073: Wills: Revocation of a will: By destruction
- IHTM12074: Wills: Revocation of a will: By marriage or civil partnership
- IHTM12075: Wills: Revocation of a will: Partial revocation (England, Wales and Northern Ireland)
- IHTM12076: Wills: Revocation of a Will: partial revocation - (Scotland)
- Close sectionWills: legacies and devises
- IHTM12081: Wills: Legacies and devises: Background
- IHTM12082: Wills: Legacies and devises: Classification of legacies and devises
- IHTM12083: Wills: Legacies and devises: Ademption
- IHTM12084: Wills: Legacies and devises: Lapse (England, Wales and Northern Ireland)
- IHTM12085: Wills: Legacies and devises: Vesting (Scotland)
- IHTM12086: Wills: Legacies and devises: Abatement
- IHTM12087: Wills: Legacies and devises: Abatement where there are not enough assets to pay the gifts in full
- IHTM12088: Wills: Legacies and devises: Abatement caused by grossing up under s.38
- Close sectionThe incidence of debts and legacies
- IHTM12091: The incidence of debts and legacies: Debts charged on property
- IHTM12092: The incidence of debts and legacies: Acceptance of liability to pay debts
- IHTM12093: The incidence of debts and legacies: Payment of uncharged debts out of the estate
- IHTM12094: The incidence of debts and legacies: Payment of legacies
- Close sectionIntestacy
- Close sectionIntestacy: Rules in England and Wales
- Close sectionIntestacy: Distributions (England & Wales)
- IHTM12121: Intestacy: Distributions under intestacy (England and Wales): Surviving spouse or civil partner
- IHTM12122: Intestacy: Distributions under intestacy (England and Wales): Statutory legacy
- IHTM12123: Intestacy: Distributions under intestacy (England and Wales): Other factors affecting surviving spouse's or civil partner's entitlement
- IHTM12124: Intestacy: Distributions under intestacy (England and Wales): Issue
- IHTM12125: Intestacy: Distributions under intestacy (England and Wales): Other persons
- IHTM12126: Intestacy: Distributions under intestacy (England and Wales): Bona vacantia
- IHTM12127: Intestacy: Distributions under intestacy (England and Wales): Beneficiary does not take up an entitlement under intestacy
- IHTM12128: Intestacy: Distributions under intestacy (England and Wales): Partial intestacy
- IHTM12129: Intestacy: Distributions under intestacy (England and Wales): Hotchpot
- Close sectionIntestacy: Intestacy (Scotland)
- Close sectionIntestacy: Distributions under intestacy (Scotland)
- IHTM12151: Intestacy: Distributions under intestacy (Scotland): Surviving spouse or civil partner
- IHTM12152: Intestacy: Distributions under intestacy (Scotland): Children
- IHTM12153: Intestacy: Distributions under intestacy (Scotland): Other persons
- IHTM12154: Intestacy: Distributions under intestacy (Scotland): Ultimus haeres
- IHTM12155: Intestacy: Distributions under intestacy (Scotland): Beneficiary does not take up an entitlement under intestacy
- IHTM12156: Intestacy: Distributions under intestacy (Scotland): Partial intestacy
- Close sectionIntestacy: Rules in Northern Ireland
- Close sectionIntestacy: Distributions (Northern Ireland)
- IHTM12171: Intestacy: Distributions under intestacy (Northern Ireland): Surviving spouse or civil partner
- IHTM12172: Intestacy: Distributions under intestacy (Northern Ireland): Statutory legacy
- IHTM12173: Intestacy: Distributions under intestacy (Northern Ireland): Other factors affecting surviving spouse's or civil partner's entitlement
- IHTM12174: Intestacy: Distributions under intestacy (Northern Ireland): Issue
- IHTM12175: Intestacy: Distributions under intestacy (Northern Ireland): Other persons
- IHTM12176: Intestacy: Distributions under intestacy (Northern Ireland): Bona vacantia
- IHTM12177: Intestacy: Distributions under intestacy (Northern Ireland): Beneficiary does not take up an entitlement under intestacy
- IHTM12178: Intestacy: Distributions under intestacy (Northern Ireland): Partial intestacy
- IHTM12179: Intestacy: Distributions under intestacy (Northern Ireland): Hotchpot
- Close sectionSimultaneous deaths (Commorientes)
- IHTM12191: Simultaneous deaths (Commorientes): Introduction
- IHTM12192: Simultaneous deaths (Commorientes): General law (England and Wales)
- IHTM12193: Simultaneous deaths (Commorientes): General law (Scotland)
- IHTM12194: Simultaneous deaths (Commorientes): General law (Northern Ireland)
- IHTM12195: Simultaneous deaths (Commorientes): IHT position
- IHTM12196: Simultaneous deaths (Commorientes): Death of younger (England & Wales)
- IHTM12197: Simultaneous deaths (Commorientes): Death of elder
- Close sectionScottish Prior and Legal Rights
- Close sectionScottish Prior and Legal Rights: Prior rights
- Close sectionScottish Prior and Legal Rights: Legal rights
- IHTM12221: Scottish Prior and Legal Rights: Legal rights: Introduction
- IHTM12222: Scottish Prior and Legal Rights: Legal rights: Inheritance tax practice on death
- IHTM12223: Scottish Prior and Legal Rights: Legal rights: Inheritance tax practice where legal rights are discharged
- IHTM12224: Scottish Prior and Legal Rights: Legal rights: Other inheritance tax implications
- IHTM12225: Scottish Prior and Legal Rights: Legal rights: Value and estate from which legal rights can be claimed
- IHTM12226: Scottish Prior and Legal Rights: Legal rights: Time limit for claim
- IHTM12227: Scottish Prior and Legal Rights: Legal rights: Election between testamentary and legal rights
- IHTM12228: Scottish Prior and Legal Rights: Legal rights: Effect of lifetime disposals on legal rights entitlement
- IHTM12229: Scottish Prior and Legal Rights: Legal rights: Claim or discharge of legal rights
- IHTM12230: Scottish Prior and Legal Rights: Legal rights: Death of potential claimant
- Close sectionExample of legal rights calculations
- IHTM12241: Scottish Prior and Legal Rights: Example of legal rights calculations: The facts
- IHTM12242: Scottish Prior and Legal Rights: Example of legal rights calculations: The succession
- IHTM12243: Scottish Prior and Legal Rights: Example of legal rights calculations: Individual succession rights, where claims or discharges of legal rights have yet been made
- IHTM12244: Scottish Prior and Legal Rights: Example of legal rights calculations: Scenario 1
- IHTM12245: Scottish Prior and Legal Rights: Example of legal rights calculations: Scenario 2
- Close sectionLegal rights
- IHTM12250: Scottish Prior and Legal Rights: Legal rights: Young persons under 18
- IHTM12251: Scottish Prior and Legal Rights: Legal rights: Adults with incapacity
- IHTM12252: Scottish Prior and Legal Rights: Legal rights: Definition of children
- IHTM12253: Scottish Prior and Legal Rights: Legal rights: Meaning of representation
- Close sectionIHTM13000: Domicile: contents
- Close sectionOverview
- Close sectionInvestigation of form IHT401
- Close sectionChange of Domicile
- Close sectionOther Domicile issues
- IHTM13030: Other Domicile issues: Double domicile
- IHTM13031: Other Domicile issues: Domicile of spouse or civil partner
- IHTM13032: Other Domicile issues: Domicile of life tenant/ settlor and exclusion from charge to Inheritance Tax
- IHTM13033: Other Domicile issues: Lifetime event
- IHTM13034: Other Domicile issues: Assets settled into trust
- IHTM13035: Other Domicile issues: Liaison arrangements with PTI Advisory and HMIT
- Close sectionElection by non-UK domiciled spouse or civil partner
- IHTM13040: Election by non-UK domiciled spouse or civil partner: Introduction
- IHTM13041: Election by non-UK domiciled spouse or civil partner: Who can make an election?
- IHTM13042: Election by non-UK domiciled spouse or civil partner: When can an election be made?
- IHTM13043: Election by non-UK domiciled spouse or civil partner: How to make an election
- IHTM13044: Election by non-UK domiciled spouse or civil partner: Process for dealing with elections
- IHTM13045: Election by non-UK domiciled spouse or civil partner: Disclosure about elections
- IHTM13046: Election by non-UK domiciled spouse or civil partner: The date the election takes effect
- IHTM13047: Election by non-UK domiciled spouse or civil partner: Consequences of making an election
- IHTM13048: Election by non-UK domiciled spouse or civil partner: Delivery of accounts and payment of tax after making an election
- IHTM13049: Election by non-UK domiciled spouse or civil partner: election ceasing to have effect
- Close sectionFinance (No 2) Act 2017 changes
- IHTM13060: Finance (No 2) Act 2017 changes: summary of the Inheritance Tax changes
- IHTM13061: Finance (No 2) Act 2017 changes: deemed domicile - number of years
- IHTM13062: Finance (No 2) Act 2017 changes: formerly UK domiciled and currently UK resident
- IHTM13063: Finance (No 2) Act 2017 changes: non UK domicile
- Close sectionIHTM14000: Lifetime transfers: contents
- Close sectionIntroduction
- Close sectionBasis of valuation
- Close sectionSpecific lifetime exemptions
- Close sectionAnnual exemption
- Close sectionSchemes to exploit annual exemption
- IHTM14151: Schemes to exploit annual exemption: Introduction
- IHTM14152: Schemes to exploit annual exemption: Transfer by sale
- IHTM14161: Schemes to exploit annual exemption: Transfer of part of a property
- IHTM14162: Schemes to exploit annual exemption: Transfer of sum of money
- IHTM14163: Schemes to exploit annual exemption: Transfer of share equal to a sum of money
- IHTM14164: Schemes to exploit annual exemption: Transfer of shares quantified by loss in value
- IHTM14165: Schemes to exploit annual exemption: Split proceeds from property on trust for sale
- Close sectionSmall gifts exemption
- Close sectionGifts in consideration of marriage or registration of civil partnership
- IHTM14191: Gifts in consideration of marriage or registration of civil partnership: Summary
- IHTM14193: Gifts in consideration of marriage or registration of civil partnership: Permissible beneficiaries for s.22 purposes
- IHTM14201: Gifts in consideration of marriage or registration of civil partnership: Rennell v IRC
- IHTM14202: Gifts in consideration of marriage or registration of civil partnership: Rennell v IRC - gifts by way of settlement
- IHTM14211: Gifts in consideration of marriage or registration of civil partnership: IHTA restrictions of Rennell - outright gifts and other dispositions
- IHTM14212: Gifts in consideration of marriage or registration of civil partnership: IHTA restrictions of Rennell - the eventual recipient
- IHTM14213: Gifts in consideration of marriage or registration of civil partnership: IHTA restrictions of Rennell - IHTA 1984, s 22 (4)(b) provisions
- IHTM14214: Gifts in consideration of marriage or registration of civil partnership: IHTA restrictions of Rennell - payments under covenant
- IHTM14220: Gifts in consideration of marriage or registration of civil partnership: Relationship with spouse or civil partner exemptions
- IHTM14221: Gifts in consideration of marriage or registration of civil partnership: Termination of IIP in settled property
- Close sectionNormal expenditure out of income
- Close sectionConditions for normal out of income exemption
- IHTM14241: Conditions for normal out of income exemption: Normal expenditure
- IHTM14242: Conditions for normal out of income exemption: Pattern of gifts
- IHTM14243: Conditions for normal out of income exemption: Factors to consider
- IHTM14244: Conditions for normal out of income exemption: Case Law - Bennett v IRC
- IHTM14250: Conditions for normal out of income exemption: Out of income
- IHTM14251: Conditions for normal out of income exemption: Case Law - McDowall
- IHTM14255: Conditions for normal out of income exemption: Transferor's standard of living
- Close sectionGifts with reservation (GWRs)
- Close sectionGifts with reservation (GWRs): The gift
- IHTM14311: Gifts with reservation (GWRs): The gift: Initial requirements
- IHTM14312: Gifts with reservation (GWRs): The gift: The donor
- IHTM14313: Gifts with reservation (GWRs): The gift: The property given
- IHTM14314: Gifts with reservation (GWRs): The gift: Examples of the property given - carve-out arrangements
- IHTM14315: Gifts with reservation (GWRs): The gift: Defining the gift
- IHTM14316: Gifts with reservation (GWRs): The gift: Sales for less than full consideration
- IHTM14317: Gifts with reservation (GWRs): The gift: Interest free loans
- IHTM14318: Gifts with reservation (GWRs): The gift: Exempt transfers which cannot be GWRs
- IHTM14319: Gifts with reservation (GWRs): The gift: Exempt transfers which can be GWRs
- Close sectionGifts with reservation (GWRs): The reservation
- IHTM14331: Gifts with reservation (GWRs): The reservation: Initial requirements
- IHTM14332: Gifts with reservation (GWRs): The reservation: Possession and enjoyment by the donee
- IHTM14333: Gifts with reservation (GWRs): The reservation: Exclusion of the donor
- IHTM14334: Gifts with reservation (GWRs): The reservation: Examples of exclusion of the donor
- IHTM14335: Gifts with reservation (GWRs): The reservation: Non-exclusion need not be continuous
- IHTM14336: Gifts with reservation (GWRs): The reservation: Effect of consideration
- IHTM14337: Gifts with reservation (GWRs): The reservation: Continuation of reasonable commercial arrangements
- IHTM14338: Gifts with reservation (GWRs): The reservation: Benefit by associated operations
- IHTM14339: Gifts with reservation (GWRs): The reservation: Benefit to donor's spouse or civil partner
- IHTM14340: Gifts with reservation (GWRs): The reservation: When occupation is not a reservation
- IHTM14341: Gifts with reservation (GWRs): The reservation: Full consideration in cases of land and chattels
- IHTM14342: Gifts with reservation (GWRs): The reservation: Infirm relative
- IHTM14343: Gifts with reservation (GWRs): The reservation: Annual exemption
- IHTM14360: Gifts with reservation (GWRs): The reservation: Interests in land
- Close sectionGifts with reservation (GWRs): Tracing
- IHTM14371: Gifts with reservation (GWRs): Tracing: Introduction
- IHTM14372: Gifts with reservation (GWRs): Tracing: Absolute gifts of cash
- IHTM14373: Gifts with reservation (GWRs): Tracing: Absolute gifts of property other than cash
- IHTM14374: Gifts with reservation (GWRs): Tracing: Supplementary provisions
- Close sectionGifts with reservation (GWRs): Settled property
- IHTM14391: Gifts with reservation (GWRs): Settled property: Introduction
- IHTM14392: Gifts with reservation (GWRs): Settled property: The donee and the property given
- IHTM14393: Gifts with reservation (GWRs): Settled property: Settlement on discretionary trusts
- IHTM14394: Gifts with reservation (GWRs): Settled property: Donor also a trustee
- IHTM14395: Gifts with reservation (GWRs): Settled property: Reasonable commercial arrangements
- IHTM14396: Gifts with reservation (GWRs): Settled property: Settlement created when the settlor is domiciled outside the UK
- Close sectionGifts with reservation (GWRs): Tracing settled property
- Close sectionGifts with reservation (GWRs): Insurance policies
- IHTM14421: Gifts with reservation (GWRs): Insurance policies: Introduction
- IHTM14431: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: General gifts after 18 March 1986
- IHTM14432: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: Normal out of income exemption on regular premiums
- IHTM14433: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: Policies made before 18 March 1986
- IHTM14434: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: Automatic increases in policy value
- IHTM14435: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: Change in life assured
- IHTM14440: Gifts with reservation (GWRs): Insurance policies - gifts to which the GWR rules can apply: The property given
- Close sectionGifts with reservation (GWRs): The reservation on insurance policies
- IHTM14451: Gifts with reservation (GWRs): The reservation on insurance policies: Introduction
- IHTM14452: Gifts with reservation (GWRs): The reservation on insurance policies: Special rule for policies with linked benefits
- IHTM14453: Gifts with reservation (GWRs): The reservation on insurance policies: Reservation examples
- Close sectionThe charge to tax
- Close sectionThe charge to tax: Potentially exempt transfers (PETs)
- IHTM14511: The charge to tax: Potentially exempt transfers (PETs): Tax treatment of a PET
- IHTM14512: The charge to tax: Potentially exempt transfers (PETs): Tax treatment of a PET followed by death
- IHTM14513: The charge to tax: Potentially exempt transfers (PETs): Cumulation
- IHTM14514: The charge to tax: Potentially exempt transfers (PETs): Cumulating transfers more than seven years before death
- IHTM14515: The charge to tax: Potentially exempt transfers (PETs): IHT nil rate band
- IHTM14516: The charge to tax: Potentially exempt transfers (PETs): Rate of tax
- IHTM14517: The charge to tax: Potentially exempt transfers (PETs): Taper relief
- IHTM14518: The charge to tax: Potentially exempt transfers (PETs): Fall in value relief
- IHTM14519: The charge to tax: Potentially exempt transfers (PETs): Special rate
- Close sectionThe charge to tax: Immediately chargeable transfers
- IHTM14531: The charge to tax: Immediately chargeable transfers: Introduction
- IHTM14532: The charge to tax: Immediately chargeable transfers: Value for tax
- IHTM14533: The charge to tax: Immediately chargeable transfers: Cumulation
- IHTM14534: The charge to tax: Immediately chargeable transfers: Rate of tax
- Close sectionThe charge to tax: Grossing
- IHTM14541: The charge to tax: Grossing: When to gross-up
- IHTM14542: The charge to tax: Grossing: When not to gross-up
- IHTM14543: The charge to tax: Grossing: Partial grossing
- IHTM14544: The charge to tax: Grossing: The grossing calculation
- IHTM14545: The charge to tax: Grossing: Tax paid after death of the transferor
- IHTM14546: The charge to tax: Grossing: Settled property
- IHTM14547: The charge to tax: Grossing: Authority for grossing
- Close sectionThe charge to tax: Other charges
- Close sectionThe charge to tax: Additional charges
- IHTM14571: The charge to tax: Additional charges: Introduction
- IHTM14572: The charge to tax: Additional charges: Value for tax
- IHTM14573: The charge to tax: Additional charges: Cumulation
- IHTM14574: The charge to tax: Additional charges: Rate of tax
- IHTM14575: The charge to tax: Additional charges: Taper relief
- IHTM14576: The charge to tax: Additional charges: The additional tax payable
- IHTM14577: The charge to tax: Additional charges: The additional tax payable (example 1)
- IHTM14578: The charge to tax: Additional charges: The additional tax payable (example 2)
- Close sectionThe charge to tax: Reliefs
- Close sectionThe charge to tax: The charge on lifetime transfers
- IHTM14590: The charge to tax: The charge on lifetime transfers: Gifts with reservation (GWRs)
- IHTM14591: The charge to tax: The charge on lifetime transfers: Simultaneous and same day transfers
- IHTM14592: The charge to tax: The charge on lifetime transfers: Liability for payment of tax
- IHTM14593: The charge to tax: The charge on lifetime transfers: Grossing-up the values
- IHTM14595: The charge to tax: The charge on lifetime transfers: Late reported transfers
- Close sectionSpecific lifetime reliefs: Taper relief
- Close sectionSpecific lifetime reliefs: Fall in value relief
- IHTM14621: Specific lifetime reliefs: Fall in value relief: Introduction
- IHTM14622: Specific lifetime reliefs: Fall in value relief: Form of the relief
- IHTM14624: Specific lifetime reliefs: Fall in value relief: Conditions for relief
- IHTM14625: Specific lifetime reliefs: Fall in value relief: What is a qualifying sale?
- IHTM14626: Specific lifetime reliefs: Fall in value relief: What is market value?
- IHTM14627: Specific lifetime reliefs: Fall in value relief: The claim
- IHTM14628: Specific lifetime reliefs: Fall in value relief: Wasting assets
- IHTM14629: Specific lifetime reliefs: Fall in value relief: Portfolio of assets
- IHTM14630: Specific lifetime reliefs: Fall in value relief: More than one sale
- IHTM14631: Specific lifetime reliefs: Fall in value relief: Not all of the transferred assets are sold
- Close sectionSpecific lifetime reliefs: Shares and securities
- IHTM14641: Specific lifetime reliefs: Shares and securities: Adjustments
- IHTM14642: Specific lifetime reliefs: Shares and securities: Capital receipts
- IHTM14643: Specific lifetime reliefs: Shares and securities: Payment of calls
- IHTM14644: Specific lifetime reliefs: Shares and securities: Changes in shareholdings
- IHTM14645: Specific lifetime reliefs: Shares and securities: Transactions of close companies
- Close sectionSpecific lifetime reliefs: Interests in land
- IHTM14661: Specific lifetime reliefs: Interests in land: Changes between transfer and death
- IHTM14662: Specific lifetime reliefs: Interests in land: Changes that have reduced the value
- IHTM14663: Specific lifetime reliefs: Interests in land: Changes that have increased the value
- IHTM14664: Specific lifetime reliefs: Interests in land: Compensation
- IHTM14670: Specific lifetime reliefs: Interests in land: Leases
- IHTM14671: Specific lifetime reliefs: Interests in land: Other property
- Close sectionDouble charges relief
- Close sectionDouble charges relief: Potentially exempt transfers (PETs)
- IHTM14701: Double charges relief: Potentially exempt transfers (PETs): When double charges relief arises
- IHTM14702: Double charges relief: Potentially exempt transfers (PETs): Partial consideration
- IHTM14703: Double charges relief: Potentially exempt transfers (PETs): Property representing the property transferred
- IHTM14704: Double charges relief: Potentially exempt transfers (PETs): Calculations
- IHTM14705: Double charges relief: Potentially exempt transfers (PETs): Quick succession relief (QSR)
- Close sectionDouble charges relief: Gifts with reservation (GWRs)
- IHTM14711: Double charges relief: Gifts with reservation (GWRs): When double charges relief arises
- IHTM14712: Double charges relief: Gifts with reservation (GWRs): Calculations
- IHTM14713: Double charges relief: Gifts with reservation (GWRs): Example of calculations 1
- IHTM14714: Double charges relief: Gifts with reservation (GWRs): Example of calculations 2
- Close sectionDouble charges relief: Disallowed debts
- IHTM14721: Double charges relief: Disallowed debts: When double charges relief arises
- IHTM14722: Double charges relief: Disallowed debts: Calculations
- IHTM14730: Double charges relief: Disallowed debts: Transfers chargeable when made
- IHTM14731: Double charges relief: Disallowed debts: Calculations producing the same amount
- IHTM14732: Double charges relief: Disallowed debts: Discretionary trusts
- Close sectionOmissions
- Close sectionAssociated operations
- IHTM14821: Associated operations: Why are the provisions necessary?
- IHTM14822: Associated operations: Definition
- IHTM14823: Associated operations: The objective test
- IHTM14824: Associated operations: The subjective test
- IHTM14825: Associated operations: Additional provisions
- IHTM14826: Associated operations: Definition of terms
- IHTM14827: Associated operations: Transfer of value made by associated operations
- IHTM14828: Associated operations: Restrictions on association
- IHTM14829: Associated operations: Re Macpherson
- IHTM14830: Associated operations: Insurance policies
- IHTM14831: Associated operations: Gifts With Reservation
- IHTM14832: Associated operations: Transfers involving relievable property
- IHTM14833: Associated operations: Gifts between spouses or civil partners
- IHTM14834: Associated operations: Sale without immediate payment of the purchase price
- IHTM14835: Associated operations: Transfer in stages
- IHTM14836: Associated operations: Successive settlements
- Close sectionTransfers by close companies
- IHTM14851: Transfers by close companies: Introduction
- IHTM14852: Transfers by close companies: Transfers of value
- IHTM14853: Transfers by close companies: Exemptions
- IHTM14854: Transfers by close companies: Foreign aspects
- IHTM14855: Transfers by close companies: Alterations in share capital, loan capital or rights
- IHTM14856: Transfers by close companies: Liability to tax
- Close sectionFuture payments
- Close sectionDating of dispositions
- IHTM14881: Dating of dispositions: Introduction
- IHTM14882: Dating of dispositions: Gifts by cheque
- IHTM14883: Dating of dispositions: Dispositions affecting land
- IHTM14884: Dating of dispositions: Chattels and corporeal moveables
- IHTM14885: Dating of dispositions: Choses in action and incorporeal moveables
- Close sectionInvestigation issues
- Close sectionIHTM15000: Joint property and nominated property: contents
- Close sectionIntroduction
- Close sectionJoint property
- Close sectionInvestigation of form IHT404
- IHTM15021: Investigation of form IHT404: Introduction to form IHT404
- IHTM15022: Investigation of form IHT404: What information does form IHT404 contain?
- IHTM15023: Investigation of form IHT404: General investigation points
- IHTM15060: Investigation of form IHT404: Lifetime transfers
- IHTM15061: Investigation of form IHT404: Gifts with reservation
- IHTM15062: Investigation of form IHT404: Insurance policies and annuities
- IHTM15063: Investigation of form IHT404: Jointly owned foreign property
- IHTM15064: Investigation of form IHT404: Joint debts
- Close sectionThe extent of the share: All locations
- Close sectionThe extent of the share: England, Wales and Northern Ireland
- IHTM15040: The extent of the share: England, Wales and Northern Ireland: Practice where there is no documentary evidence of an express trust
- IHTM15041: The extent of the share: England, Wales and Northern Ireland: When are the beneficial interests ascertained?
- IHTM15042: The extent of the share: England, Wales and Northern Ireland: Joint money accounts
- IHTM15043: The extent of the share: England, Wales and Northern Ireland: Lifetime gifts arising out of a transfer of an account into joint names
- IHTM15044: The extent of the share: England, Wales and Northern Ireland: Land
- IHTM15045: The extent of the share: England, Wales and Northern Ireland: Procedure where the property produces income but the deceased takes a different share to his supposed share of the property
- Close sectionThe extent of the share: Scotland
- IHTM15050: The extent of the share: Scotland: Special destinations and proof of donation
- IHTM15051: The extent of the share: Scotland: Joint money accounts
- IHTM15052: The extent of the share: Scotland: Land
- IHTM15053: The extent of the share: Scotland: Which law to apply to joint investments owned by someone domiciled in Scotland
- IHTM15054: The extent of the share: Scotland: Joint money accounts and special destinations
- Close sectionValuation of joint property
- Close sectionTypes of joint property
- Close sectionTypes of joint property in Scottish law
- Close sectionNominated property
- Close sectionIHTM16000: Settled property: contents
- Close sectionIntroduction to settled property: Settled property - general procedure
- IHTM16021: Introduction to settled property: Settled property - general procedure: Incoming post
- IHTM16022: Introduction to settled property: Settled property - general procedure: Form IHT418
- IHTM16023: Introduction to settled property: Settled property - general procedure: Form IHT 100
- IHTM16024: Introduction to settled property: Settled property - general procedure: The event forms
- IHTM16025: Introduction to settled property: Settled property - general procedure: Investigation
- Close sectionIntroduction to settled property: What is a trust
- Close sectionIntroduction to settled property: Definition of a settlement for IHT
- Close sectionIntroduction to settled property: The trustees
- Close sectionIntroduction to settled property: Interests in possession
- IHTM16060: Introduction to settled property: Interests in possession: Introduction
- IHTM16061: Introduction to settled property: Interests in possession: Finance Act 2006 and the new trust regime
- IHTM16062: Introduction to settled property: Interests in possession: Definition of an interest in possession
- IHTM16063: Introduction to settled property: Interests in possession: The effects of S49 and S49(1A)
- IHTM16064: Introduction to settled property: Interests in possession: What happens if consideration was given?
- IHTM16065: Introduction to settled property: Interests in possession: Powers of accumulation
- IHTM16066: Introduction to settled property: Interests in possession: What if there is no income?
- IHTM16067: Introduction to settled property: Interests in possession: Administrative powers
- IHTM16068: Introduction to settled property: Interests in possession: Absolute trusts for minors
- Close sectionIntroduction to settled property: Proper liferents (Scotland)
- Close sectionAdditions of property or value
- IHTM16074: Additions of property or value: Introduction
- IHTM16075: Additions of property or value: Additions of property after 22 March 2006
- IHTM16076: Additions of property or value: Additions of value after 22 March 2006
- IHTM16077: Additions of property or value: Difficult cases and examples
- IHTM16078: Additions of property or value: Difficult cases and examples - additions of value
- Close sectionSettled property exemptions
- Close sectionTermination of interest in possession
- IHTM16091: Termination of interest in possession: The effect of terminating the interest
- IHTM16092: Termination of interest in possession: When the life tenant becomes entitled to the property on termination
- IHTM16093: Termination of interest in possession: Disposal for consideration
- IHTM16094: Termination of interest in possession: Deduction of costs
- Close sectionInterest in part of a fund
- Close sectionSurvivorship clause in a will
- Close sectionReverter to settlor
- Close sectionRights of residence
- IHTM16131: Rights of residence: Introduction
- IHTM16132: Rights of residence: Action in Service
- IHTM16133: Rights of residence: Action in Compliance
- IHTM16134: Rights of residence: The leading case
- IHTM16135: Rights of residence: A single beneficiary
- IHTM16136: Rights of residence: More than one beneficiary
- IHTM16137: Rights of residence: Has someone taken up the right of occupation?
- IHTM16138: Rights of residence: Has someone ceased to occupy his or her main residence?
- IHTM16139: Rights of residence: Joint ownership
- Close sectionSurviving spouse exemption
- Close sectionQuick Succession Relief
- Close sectionForeign property in a trust
- Close sectionAccrued and apportioned income
- Close sectionDisclaimers
- Close sectionLeases for life
- Close sectionBankruptcy
- Close sectionAnnuities
- Close sectionRights in residue
- Close sectionInterest in possession for services as trustee
- Close sectionReversions
- Close sectionClose companies and settled property
- IHTM16241: Close companies and Introduction
- IHTM16242: Close companies and How to investigate
- IHTM16243: Close companies and The taxable amount
- IHTM16244: Close companies and Foreign element
- IHTM16245: Close companies and Alterations in capital or rights
- IHTM16246: Close companies and Close company entitled to interest in possession
- IHTM16247: Close companies and Example
- IHTM16248: Close companies and Example of altering rights
- Close sectionInterest for another person's life
- Close sectionIntroduction to settled property: Settled property - general procedure
- Close sectionIHTM17000: Pensions: contents
- Close sectionIntroduction
- Close sectionExamining form IHT409
- Close sectionTypes of pension scheme
- IHTM17020: Types of pension scheme: Introduction
- IHTM17021: Types of pension scheme: Registered pension schemes
- IHTM17022: Types of pension scheme: Occupational pension and related schemes
- IHTM17023: Types of pension scheme: Personal pension schemes
- IHTM17024: Types of pension scheme: Retirement annuity contracts
- IHTM17025: Types of pension scheme: Qualifying non-UK pension schemes (QNUPS)
- IHTM17026: Types of pension scheme: Section 615(3) schemes
- IHTM17027: Types of pension scheme: Employer-financed retirement benefit schemes (EFRBS)
- Close sectionPension scheme benefits
- Close sectionIHT exclusions
- IHTM17035: IHT exclusions: Contributions to a pension scheme
- IHTM17036: IHT exclusions: Rights to a pension or annuity
- IHTM17037: IHT exclusions: Omission to exercise a right
- IHTM17038: IHT exclusions: Trust based schemes that are not relevant property
- IHTM17039: IHT exclusions: Sponsored superannuation schemes
- Close sectionIHT charges
- IHTM17041: IHT charges: Introduction
- IHTM17042: IHT charges: Contributions generally
- IHTM17043: IHT charges: Contributions made whilst in ill-health
- IHTM17044: IHT charges: Contributions to another person's pension scheme
- IHTM17051: IHT charges: Death benefits introduction
- IHTM17052: IHT charges: General power over death benefits
- IHTM17053: IHT charges: Death benefits cash options
- IHTM17054: IHT charges: Payments continuing after death
- IHTM17055: IHT charges: Other payments
- IHTM17056: IHT charges: Protected rights up to 6 April 2012
- IHTM17058: IHT charges: Crown, local authorities and overseas governments
- IHTM17059: IHT charges: NHS and Social Care Coronavirus Life Assurance Schemes
- IHTM17070: IHT charges: Lifetime transfers of death benefits
- IHTM17071: IHT charges: Assignment of death benefits
- IHTM17072: IHT charges: Transfers between pension schemes
- IHTM17073: IHT charges: Gifts with reservation and statement of practice 10/86
- IHTM17074: IHT charges: Unregistered schemes and gifts with reservation
- Close sectionRelevant property charges
- IHTM17081: Relevant property charges: Introduction
- IHTM17082: Relevant property charges: Employer-financed retirement benefits schemes
- IHTM17083: Relevant property charges: Status of funds after death but before payment
- IHTM17084: Relevant property charges: Settlement of death benefits
- IHTM17085: Relevant property charges: Identity of the settlor
- Close sectionExcepted group life policies
- Close sectionOther provisions
- IHTM17100: Other provisions: Introduction
- IHTM17101: Other provisions: Tax Bulletin
- IHTM17102: Other provisions: Income drawdown
- IHTM17103: Other provisions: ABI guidance note
- IHTM17104: Other provisions: Lifetime transfers
- IHTM17106: Other provisions: Phased retirement plans
- IHTM17107: Other provisions: The Fryer case
- IHTM17108: Other provisions: The Parry case
- Close sectionPensions between 6 April 2006 and 5 April 2011
- Close sectionOmission to exercise a right
- IHTM17301: Omission to exercise a right: Introduction
- IHTM17302: Omission to exercise a right: No IHT charge
- IHTM17303: Omission to exercise a right: The legislation in detail
- IHTM17304: Omission to exercise a right: Member in ill-health at commencement of income drawdown
- IHTM17305: Omission to exercise a right: Examples of an actual pensions disposition
- IHTM17306: Omission to exercise a right: Calculation of the charge
- IHTM17307: Omission to exercise a right: The Fryer case
- IHTM17308: Omission to exercise a right: The Parry case
- Close sectionAlternatively secured pensions
- Close sectionScheme pensions and lifetime annuities
- Close sectionState_Pension_underpayments
- Close sectionIHTM18000: Stocks and shares: contents
- Close sectionIntroduction
- Close sectionInvestigating forms IHT411 and IHT412
- Close sectionListed stocks, shares and investments
- Close sectionListed stocks, shares and investments: Valuation
- IHTM18091: Listed stocks, shares and investments: Valuation: Basis of valuation
- IHTM18092: Listed stocks, shares and investments: Valuation: Stock Exchange Listings
- IHTM18093: Listed stocks, shares and investments: Valuation: Shares
- IHTM18094: Listed stocks, shares and investments: Valuation: UK Government securities and municipal securities
- IHTM18095: Listed stocks, shares and investments: Valuation: Unit Trusts
- IHTM18097: Listed stocks, shares and investments: Valuation: Individual Savings Accounts (ISAs)
- IHTM18098: Listed stocks, shares and investments: Valuation: Additional quotation markings
- IHTM18099: Listed stocks, shares and investments: Valuation: Capitalisation issues
- IHTM18100: Listed stocks, shares and investments: Valuation: Rights issues
- Close sectionListed stocks, shares and investments: Other issues
- Close sectionUnlisted shares
- Close sectionUnlisted shares: BES/EIS/VCT/EZ/Property Enterprise Trust
- Close sectionUnlisted shares: Share Option Schemes
- Close sectionIHTM19000: Capital debts due to the estate: contents
- Close sectionCapital debts due to the estate
- Close sectionCapital debts due to the estate: procedures
- IHTM19030: Procedures: Receipt of completed form IHT416
- IHTM19040: Procedures: Type of debt reported on form IHT416
- IHTM19050: Procedures: Information required on form IHT416
- IHTM19060: Procedures: Form IHT416 is incomplete
- IHTM19070: Procedures: Completed form IHT416 received - investigation issues arising - general
- IHTM19080: Procedures: Completed form IHT416 received - investigation issues arising - specific
- Close sectionCapital debts due to the estate: legal background
- Close sectionIHTM20000: Life Policies: contents
- Close sectionIntroduction to life policies
- Close sectionInvestigating Form IHT410
- IHTM20021: Investigating Form IHT410: Introduction to form IHT410
- IHTM20022: Investigating Form IHT410: If the answer to Question 1 is Yes
- IHTM20023: Investigating Form IHT410: If the answer to Question 3 is Yes
- IHTM20024: Investigating Form IHT410: If the answer to Question 4 is Yes
- IHTM20025: Investigating Form IHT410: If the answer to Question 7 is Yes
- IHTM20026: Investigating Form IHT410: If the answer to Question 10 is Yes
- IHTM20027: Investigating Form IHT410: Procedure if the answer to Question 10 is Yes
- IHTM20028: Investigating Form IHT410: If the answer to Question 12 is Yes
- IHTM20029: Investigating Form IHT410: If the answer to Question 14 is Yes
- Close sectionInvestigating Form IHT403
- IHTM20041: Investigating Form IHT403: Introduction
- IHTM20042: Investigating Form IHT403: Gift of an existing life policy
- IHTM20043: Investigating Form IHT403: Procedure for a gift of an existing life policy
- IHTM20044: Investigating Form IHT403: Payment of premiums on a life policy for the benefit of someone else
- IHTM20045: Investigating Form IHT403: Payment of premiums on a life policy for the benefit of someone else - procedure
- IHTM20046: Investigating Form IHT403: Assignment of the right to a lump sum due under an annuity contract
- Close sectionParticular situations to look out for
- Close sectionDefinitions
- IHTM20081: Definitions: ‘Assured’ and ‘life assured’
- IHTM20082: Definitions: ‘Premium’
- IHTM20083: Definitions: ‘Surrender value’ and ‘open market value’
- IHTM20084: Definitions: ‘Claim value’
- IHTM20085: Definitions: ‘Insurable interest’
- IHTM20086: Definitions: ‘Sum assured’
- IHTM20087: Definitions: ‘Back-to-back’ policies
- IHTM20088: Definitions: ‘Mortgage protection policies’ and ‘mortgage indemnity guarantees’
- Close sectionTypes of policy
- IHTM20101: Types of policy: Whole life policy
- IHTM20102: Types of policy: Term, term assurance or temporary policy
- IHTM20103: Types of policy: Pure endowment policy
- IHTM20104: Types of policy: Endowment policy or endowment assurance
- IHTM20105: Types of policy: With-profits policy
- IHTM20106: Types of policy: Unit-linked policy
- IHTM20107: Types of policy: Alternative benefits policy
- Close sectionTrusts of life policies
- Close sectionTrusts of life policies: Policy settled on its own trusts
- IHTM20151: Trusts of life policies: Policy settled on its own trusts: Express life interest in favour of settlor
- IHTM20152: Trusts of life policies: Policy settled on its own trusts: Conditions required for policy to be comprised in a settlement
- IHTM20153: Trusts of life policies: Policy settled on its own trusts: Life interest in favour of a beneficiary other than the settlor
- IHTM20154: Trusts of life policies: Policy settled on its own trusts: Examples - England, Wales and Northern Ireland
- IHTM20155: Trusts of life policies: Policy settled on its own trusts: Examples - Scotland
- Close sectionTrusts of life policies: Policy settled on other trusts
- Close sectionTrusts of life policies: General power over policy proceeds
- Close sectionTrusts of life policies: Married Women's Property Act policies
- IHTM20181: Trusts of life policies: Married Women's Property Act policies: Introduction
- IHTM20182: Trusts of life policies: Married Women's Property Act policies: Proper law
- IHTM20183: Trusts of life policies: Married Women's Property Act policies: The rule in Phipps v Ackers
- IHTM20184: Trusts of life policies: Married Women's Property Act policies: Trustees' remuneration
- IHTM20185: Trusts of life policies: Married Women's Property Act policies: No trustee appointed
- Close sectionPolicies on the deceased's life not connected with any other transaction (except a trust)
- Close sectionPolicies on the deceased's life not connected with any other transaction (except a trust): Policy unconnected with a gift or trust
- IHTM20211: Policies on the deceased's life not connected with any other transaction (except a trust): Policy unconnected with a gift or trust: Introduction
- IHTM20212: Policies on the deceased's life not connected with any other transaction (except a trust): Policy unconnected with a gift or trust: Possible discount
- IHTM20213: Policies on the deceased's life not connected with any other transaction (except a trust): Policy unconnected with a gift or trust: Policies with Independent Order of Foresters, Homeowners Friendly Society, Family Assurance Friendly Society and simil
- Close sectionPolicies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later
- IHTM20221: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Introduction
- IHTM20231: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Value of policy - general rule
- IHTM20241: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Value of policy - special rule - introduction
- IHTM20242: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Value of policy - special rule - exclusions from special rule
- IHTM20243: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Value of policy - special rule - term assurance policies excluded from special rule
- IHTM20244: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected by the deceased for their own benefit but gifted later: Value of policy - special rule - modification of special rule for unit-linked policies
- Close sectionPolicies on the deceased's life not connected with any other transaction (except a trust): Policy effected for the benefit of someone else from the start
- IHTM20251: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected for the benefit of someone else from the start: Introduction
- IHTM20252: Policies on the deceased's life not connected with any other transaction (except a trust): Policy effected for the benefit of someone else from the start: Policy contains option to surrender bonuses to the transferor
- Close sectionJoint life and joint name policies
- IHTM20300: Joint life and joint name policies: Policies in joint names
- IHTM20301: Joint life and joint name policies: Introduction
- IHTM20302: Joint life and joint name policies: Ascertaining the beneficial interests
- IHTM20303: Joint life and joint name policies: The situations that can arise and the Inheritance Tax claims that can result
- IHTM20304: Joint life and joint name policies: Joint mortgage protection policies
- Close sectionPotentially Exempt Transfer treatment for renewal premiums
- Close sectionPolicies based on the life of another not connected with any other transaction (except a trust)
- Close sectionLife policy linked with an annuity
- IHTM20371: Life policy linked with an annuity: Introduction and background
- IHTM20372: Life policy linked with an annuity: What to do first
- IHTM20373: Life policy linked with an annuity: What to do when the Actuarial Team's advice is received
- IHTM20374: Life policy linked with an annuity: The current statutory position
- IHTM20375: Life policy linked with an annuity: The Associated Operations test
- IHTM20376: Life policy linked with an annuity: Annuity and policy issued by different companies
- IHTM20377: Life policy linked with an annuity: Deferred annuity contract
- Close sectionPure Endowment policy linked with a Term Assurance policy
- Close sectionDiscounted Gift Schemes
- IHTM20421: Discounted Gift Schemes: Introduction
- IHTM20422: Discounted Gift Schemes: What to do
- IHTM20423: Discounted Gift Schemes: List of Companies and Scheme names
- IHTM20424: Discounted Gift Schemes: Basic scheme
- IHTM20425: Discounted Gift Schemes: Quantifying the Inheritance Tax claim
- IHTM20426: Discounted Gift Schemes: Factors affecting the open market value of the retained rights
- IHTM20427: Discounted Gift Schemes: Where the transferor's life was uninsurable at the transfer date
- Close sectionCapital Conversion or Flexible Funding plans
- Close sectionLife Policy linked with a loan and Inheritance Trusts
- Close sectionLife Policy linked with a loan and Inheritance Trusts: Original scheme
- IHTM20511: Life Policy linked with a loan and Inheritance Trusts: Original scheme: How the original scheme typically worked
- IHTM20512: Life Policy linked with a loan and Inheritance Trusts: Original scheme: Legislation designed to counteract scheme
- IHTM20513: Life Policy linked with a loan and Inheritance Trusts: Original scheme: Revised scheme following legislative changes
- Close sectionLife Policy linked with a loan and Inheritance Trusts: Reverse Loan scheme
- Close sectionSplit or Retained Interest Trusts
- IHTM20551: Split or Retained Interest Trusts: Introduction
- IHTM20552: Split or Retained Interest Trusts: single lump sum investments
- IHTM20553: Split or Retained Interest Trusts: single lump sum investments: further details
- IHTM20554: Split or retained interest trusts: single lump sum investments: what to do
- IHTM20555: Split or retained interest trusts: regular premium arrangements
- IHTM20556: Split or retained interest trusts: regular premium arrangements: further information
- IHTM20557: Split or retained interest trusts: regular premium arrangements: what to do
- Close sectionFlexible Reversionary Trusts
- Close sectionPolicies with Countrywide (formerly Premium Life) Assurance Company
- IHTM20601: Policies with Countrywide (formerly Premium Life) Assurance Company: Introduction
- IHTM20602: Policies with Countrywide (formerly Premium Life) Assurance Company: What action to take
- IHTM20603: Policies with Countrywide (formerly Premium Life) Assurance Company: How to identify the two schemes
- Close sectionPolicies with Canadian insurance companies
- Close sectionAnnuities payable to deceased/transferor by insurance companies
- IHTM20631: Annuities payable to deceased/transferor by insurance companies: Introduction
- IHTM20632: Annuities payable to deceased/transferor by insurance companies: Purchased life annuities - types and potential claims
- IHTM20633: Annuities payable to deceased/transferor by insurance companies: Annuities ceasing on the death
- IHTM20634: Annuities payable to deceased/transferor by insurance companies: Annuities which continue after the death
- IHTM20635: Annuities payable to deceased/transferor by insurance companies: Annuities purchased in joint names
- Close sectionTechnical note on discounted gift schemes issued on 1 May 2007
- IHTM20650: Technical note on discounted gift schemes issued on 1 May 2007: Introduction
- IHTM20651: Technical note on discounted gift schemes issued on 1 May 2007: Background
- IHTM20652: Technical note on discounted gift schemes issued on 1 May 2007: Inheritance Tax treatment
- IHTM20653: Technical note on discounted gift schemes issued on 1 May 2007: Valuation issues
- IHTM20654: Technical note on discounted gift schemes issued on 1 May 2007: Position where there are joint settlors
- IHTM20655: Technical note on discounted gift schemes issued on 1 May 2007: Underwriting approach
- IHTM20656: Technical note on discounted gift schemes issued on 1 May 2007: HMRC's current basis of valuation
- Close sectionIHTM21000: Household goods and personal effects: contents
- IHTM21001: Introduction
- Close sectionInvestigating form IHT407
- Close sectionTypes of asset
- Close sectionValuation and technical issues
- IHTM21041: Valuation and technical issues: How we value household goods
- IHTM21043: Valuation and technical issues: Joint property
- IHTM21044: Valuation and technical issues: Lifetime transfers
- IHTM21045: Valuation and technical issues: Gifts with reservation
- IHTM21046: Valuation and technical issues: Settled property
- IHTM21047: Valuation and technical issues: Situs of works of art owned overseas
- IHTM21048: Valuation and technical issues: Conditional exemption
- Close sectionIHTM22000: Interest in unadministered estates and QSR: contents
- Close sectionIntroduction
- Close sectionInterest in unadministered estates
- Close sectionInterest in unadministered estates: Investigating form IHT415
- Close sectionInterest in unadministered estates: Payment by instalments
- Close sectionQuick succession relief
- Close sectionQuick succession relief: Calculating QSR
- IHTM22051: Quick succession relief: Calculating QSR: Summary and formula
- IHTM22052: Quick succession relief: Calculating QSR: The appropriate percentage
- IHTM22053: Quick succession relief: Calculating QSR: Value and tax on earlier transfer
- IHTM22054: Quick succession relief: Calculating QSR: Increase in deceased's estate
- Close sectionQuick succession relief: Calculating QSR: Quantifying increase to deceased's estate
- Close sectionQuick succession relief: Calculating QSR: Tax burden on death
- IHTM22071: Quick succession relief: Calculating QSR - tax burden on death: Summary
- IHTM22072: Quick succession relief: Calculating QSR - tax burden on death: Legacies free of tax
- IHTM22073: Quick succession relief: Calculating QSR - tax burden on death: Legacies bearing own tax
- IHTM22074: Quick succession relief: Calculating QSR - tax burden on death: Gifts of residue
- IHTM22075: Quick succession relief: Calculating QSR - tax burden on death: Equal beneficiaries, unequal benefits
- IHTM22076: Quick succession relief: Calculating QSR - tax burden on death: Received lifetime transfers
- Close sectionQuick succession relief: Calculating QSR: Quantifying increase to deceased's estate
- Close sectionSettled property
- Close sectionIHTM23000: Land and Buildings: contents
- Close sectionIntroduction
- Close sectionWho values interests in land?
- Close sectionCommunications with the VOA: Interim reports
- IHTM23084: Communications with the VOA: Interim reports: Initial agricultural relief report
- IHTM23085: Communications with the VOA: Interim reports: Lack of co-operation by the taxpayer
- IHTM23086: Communications with the VOA: Interim reports: Property in the market for sale
- IHTM23089: Communications with the VOA: Interim reports: Stalled negotiations
- IHTM23090: Communications with the VOA: Interim reports: Negotiation impasse and appeal reports
- Close sectionCommunications with the VOA: Time limits and reminding action
- Close sectionCommunications with the VOA: Contacting the VOA
- Close sectionCommunications with the VOA: Other communications received from the VOA
- IHTM23131: Communications with the VOA: Other communications received from the VOA: VOA requires further information
- IHTM23132: Communications with the VOA: Other communications received from the VOA: Taxpayer's figure is unacceptable
- IHTM23133: Communications with the VOA: Other communications received from the VOA: Property in the market for sale
- Close sectionWhat to do on receipt of the VOA's final report
- IHTM23141: What to do on receipt of the VOA's final report: Introduction
- IHTM23143: What to do on receipt of the VOA's final report: Types of report
- IHTM23144: What to do on receipt of the VOA's final report: Report endorsed ‘As returned’
- IHTM23145: What to do on receipt of the VOA's final report: Report endorsed ‘No question need be raised on this valuation’
- IHTM23146: What to do on receipt of the VOA's final report: Report endorsed ‘The value does not exceed £....’
- IHTM23147: What to do on receipt of the VOA's final report: Report endorsed ‘Agreed’
- IHTM23148: What to do on receipt of the VOA's final report: Report endorsed ‘Agreed subject to confirmation’
- IHTM23153: What to do on receipt of the VOA's final report: Contacting the taxpayer following receipt of the VOA's report
- Close sectionIssues that may arise after receipt of the VOA's final report
- Close sectionSpecial valuation matters
- IHTM23171: Special valuation matters: Agricultural land occupied by a partnership
- IHTM23172: Special valuation matters: Agricultural relief claimed on the land
- IHTM23173: Special valuation matters: Benefit of building contracts
- IHTM23174: Special valuation matters: Business premises owned by the deceased and occupied by a partnership terminating on the relevant transfer
- IHTM23175: Special valuation matters: Business relief claimed on the land
- IHTM23176: Special valuation matters: Cesser of annuity/annuity charged on the land
- IHTM23177: Special valuation matters: Conditional exemption claimed on the land
- IHTM23178: Special valuation matters: Crop quotas other than milk or potato quotas
- IHTM23179: Special valuation matters: Goodwill
- IHTM23180: Special valuation matters: Growing crops
- IHTM23181: Special valuation matters: Housing associations/sheltered housing schemes
- IHTM23182: Special valuation matters: Improvement grants for residential properties
- IHTM23183: Special valuation matters: Joint property - valuation of a fractional share
- IHTM23184: Special valuation matters: Jointly owned land sold under a binding contract entered into after the death
- IHTM23185: Special valuation matters: Land sold under a binding contract entered into after the death
- IHTM23186: Special valuation matters: Land subject to a binding contract for sale at the date of death
- IHTM23187: Special valuation matters: Land subject to compulsory acquisition
- IHTM23188: Special valuation matters: Land subject to loans under the Land Improvement Acts
- IHTM23189: Special valuation matters: Lease for life
- IHTM23190: Special valuation matters: Lease for life reserved by the transferor or granted by transferee in fulfilment of a condition
- IHTM23191: Special valuation matters: Lease for life granted gratuitously
- IHTM23192: Special valuation matters: Occupation of settled property amounting to a lease for life
- IHTM23193: Special valuation matters: Leasehold Reform Act 1967
- IHTM23194: Special valuation matters: Lordships of the Manor and Baronial Titles
- IHTM23195: Special valuation matters: Machinery and plant
- IHTM23197: Special valuation matters: Minerals
- IHTM23198: Special valuation matters: Partnership property
- IHTM23200: Special valuation matters: Property acquired under right to buy legislation
- IHTM23201: Special valuation matters: Property claimed to be subject to right of occupation by a third party
- IHTM23202: Special valuation matters: Property let to a company in which the deceased was interested
- IHTM23203: Special valuation matters: Property subject to damage affecting its value
- IHTM23204: Special valuation matters: Property subject to an enforceable right of occupation by a third party
- IHTM23205: Special valuation matters: Purchaser's interest under a binding contract to purchase
- IHTM23206: Special valuation matters: Related property
- IHTM23207: Special valuation matters: Timeshares
- IHTM23208: Special valuation matters: Woodlands relief claimed on the land
- Close sectionProcedure in the VOA
- IHTM23221: Procedure in the VOA: Outline of the valuation procedure
- IHTM23222: Procedure in the VOA: Initial appraisal
- IHTM23223: Procedure in the VOA: Inspection and valuation
- IHTM23224: Procedure in the VOA: Negotiation
- IHTM23225: Procedure in the VOA: Determination
- IHTM23226: Procedure in the VOA: Litigation
- IHTM23227: Procedure in the VOA: Case progression
- IHTM23228: Procedure in the VOA: Multi-property cases
- Close sectionVOA service level agreement
- Close sectionIHTM24000: Agricultural relief: contents
- Close sectionIntroduction
- Close sectionOverview of agricultural relief
- IHTM24011: Overview of agricultural relief: Outline of the relief
- IHTM24012: Overview of agricultural relief: General conditions
- IHTM24013: Overview of agricultural relief: Information sources
- IHTM24014: Overview of agricultural relief: Reviewing the information
- IHTM24015: Overview of agricultural relief: Sole farming businesses
- IHTM24016: Overview of agricultural relief: Farming partnerships
- IHTM24017: Overview of agricultural relief: Deceased as landlord
- Close sectionUnquoted shares
- Close sectionAgricultural property
- IHTM24030: Agricultural property: Definition of agricultural property
- IHTM24031: Agricultural property: Definition of agricultural land or pasture
- IHTM24032: Agricultural property: Woodlands
- IHTM24033: Agricultural property: Buildings used for intensive rearing of livestock or fish
- IHTM24034: Agricultural property: Farm cottages
- IHTM24035: Agricultural property: Farm buildings
- IHTM24036: Agricultural property: Farmhouses
- IHTM24037: Agricultural property: Agricultural ‘property’
- IHTM24038: Agricultural property: Scotland
- IHTM24039: Agricultural property: Fishing rights
- IHTM24040: Agricultural property: Contracts and trusts for sale
- Close sectionCharacter appropriate
- Close sectionAgricultural purposes
- IHTM24060: Agricultural purposes: Introduction
- IHTM24061: Agricultural purposes: Qualifying uses of land
- IHTM24062: Agricultural purposes: Other uses of land
- IHTM24063: Agricultural purposes: Short rotation coppice
- IHTM24064: Agricultural purposes: Set-aside scheme
- IHTM24065: Agricultural purposes: The habitat scheme
- IHTM24066: Agricultural purposes: Countryside stewardship scheme
- IHTM24067: Agricultural purposes: Farm woodland premium scheme and other agri-environmental schemes
- IHTM24068: Agricultural purposes: Stud farms
- Close sectionOccupation
- IHTM24070: Occupation: Introduction
- IHTM24071: Occupation: The occupation condition
- IHTM24072: Occupation: When is property occupied?
- IHTM24073: Occupation: When is land let on grazing licence?
- IHTM24074: Occupation: Definition of a lease as opposed to a licence
- IHTM24075: Occupation: Northern Ireland
- IHTM24076: Occupation: When is property not occupied?
- Close sectionShare farming and contract farming agreements
- Close sectionOccupation of farmhouses, cottages and farm buildings
- IHTM24090: Occupation of farmhouses, cottages and farm buildings: Introduction
- IHTM24091: Occupation of farmhouses, cottages and farm buildings: Farmhouses
- IHTM24092: Occupation of farmhouses, cottages and farm buildings: Cottages
- IHTM24093: Occupation of farmhouses, cottages and farm buildings: Farm buildings
- Close sectionOwnership
- Close sectionReplacement property
- Close sectionSuccessions
- IHTM24120: Successions: Introduction
- IHTM24121: Successions: Application of IHTA84/S120
- IHTM24122: Successions: The occupation requirement
- IHTM24123: Successions: Example of the occupation requirement
- IHTM24124: Successions: Example of occupation by a company
- IHTM24125: Successions: Application with the transitional provisions (working farmer relief)
- Close sectionSuccessive transfers
- Close sectionThe rate of relief
- IHTM24140: The rate of relief: Introduction
- IHTM24141: The rate of relief: Vacant possession and the higher rate of relief
- IHTM24142: The rate of relief: Grazing licences and the higher rate of relief
- IHTM24143: The rate of relief: Tenancies created on or after 1/9/1995 and the higher rate
- IHTM24144: The rate of relief: Vacant possession and ESC F17
- IHTM24145: The rate of relief: Transitional provision for relief (working farmers relief) at the higher rate for let land
- Close sectionValue and valuation
- IHTM24150: Value and valuation: Agricultural value of agricultural property
- IHTM24151: Value and valuation: Excess of value over agricultural value and Interaction with business relief
- IHTM24152: Value and valuation: Treatment of mortgages and debts
- IHTM24153: Value and valuation: Partnership interests
- IHTM24154: Value and valuation: Buildings and fixtures erected by tenant farmers
- IHTM24155: Value and valuation: Interaction with exemptions
- Close sectionThe District Valuer
- IHTM24160: The District Valuer: Introduction
- IHTM24161: The District Valuer: General issues
- IHTM24162: The District Valuer: Extent of agricultural property in the estate
- IHTM24163: The District Valuer: Investigation of character appropriate prior to VOA referral
- IHTM24164: The District Valuer: VOA interim report
- IHTM24165: The District Valuer: Role of the DV
- IHTM24166: The District Valuer: Character appropriate
- IHTM24167: The District Valuer: Additional advice on agricultural property
- Close sectionLifetime transfers
- IHTM24170: Lifetime transfers: Introduction
- IHTM24171: Lifetime transfers: Transfer of part of an agricultural holding
- IHTM24172: Lifetime transfers: Additional conditions
- IHTM24173: Lifetime transfers: The four additional conditions
- IHTM24174: Lifetime transfers: The original property
- IHTM24175: Lifetime transfers: Where shares or securities are original property
- IHTM24176: Lifetime transfers: Continuing ownership
- IHTM24177: Lifetime transfers: The remaining agricultural property
- IHTM24178: Lifetime transfers: Continuing occupation
- IHTM24179: Lifetime transfers: The transferee
- IHTM24180: Lifetime transfers: Failure to satisfy the additional conditions
- IHTM24181: Lifetime transfers: Replacement property (other than shares or securities)
- IHTM24182: Lifetime transfers: Replacement property (shares or securities)
- Close sectionGifts With Reservation (GWRs)
- IHTM24200: Gifts With Reservation (GWRs): Introduction
- IHTM24201: Gifts With Reservation (GWRs): Qualifying conditions (excluding shares)
- IHTM24202: Gifts With Reservation (GWRs): Agricultural property at the time of the GWR charge
- IHTM24203: Gifts With Reservation (GWRs): Qualifying conditions for shares and securities
- IHTM24204: Gifts With Reservation (GWRs): Interaction with business relief for shares and securities
- IHTM24205: Gifts With Reservation (GWRs): Notional transfer by the donee
- IHTM24206: Gifts With Reservation (GWRs): Disposal of gifted property by the donee
- Close sectionAgricultural tenancies
- Close sectionAgricultural Holdings Act (AHA) 1986
- IHTM24220: Agricultural Holdings Act (AHA) 1986: What is an agricultural holding?
- IHTM24221: Agricultural Holdings Act (AHA) 1986: The protected tenancy
- IHTM24222: Agricultural Holdings Act (AHA) 1986: Extension to statutory protection
- IHTM24223: Agricultural Holdings Act (AHA) 1986: Exceptions to statutory protection
- IHTM24224: Agricultural Holdings Act (AHA) 1986: Security of tenure
- IHTM24225: Agricultural Holdings Act (AHA) 1986: Sub-tenancies of agricultural land
- IHTM24226: Agricultural Holdings Act (AHA) 1986: Succession to agricultural holdings
- Close sectionInheritance tax implications of the AHA 1986 and Agricultural Holdings (Scotland) Act 1991
- Close sectionAgricultural Tenancies Act (ATA) 1995
- IHTM24240: Agricultural Tenancies Act (ATA) 1995: Introduction
- IHTM24241: Agricultural Tenancies Act (ATA) 1995: Tenancies excluded from the 1995 Act
- IHTM24242: Agricultural Tenancies Act (ATA) 1995: The contract of an ATA 1995 Act tenancy
- IHTM24243: Agricultural Tenancies Act (ATA) 1995: Inheritance tax implications of the ATA 1995
- Close sectionOther issues
- IHTM24250: Other issues: Milk quotas
- IHTM24251: Other issues: Valuing milk quotas
- IHTM24252: Other issues: Sugar beet quotas
- IHTM24253: Other issues: Comparison with the income provisions (for farming and exploitation)
- IHTM24254: Other issues: Single payment scheme
- IHTM24255: Other issues: Form IHT414
- IHTM24256: Other issues: European Economic Area (EEA) - transfers of value on or after 22 April 2009
- Close sectionIHTM25000: Business relief and businesses: contents
- Close sectionIntroduction
- Close sectionInvestigating business relief and businesses
- Close sectionInvestigation in 100% relief cases
- Close sectionValuing businesses and partnerships
- Close sectionValuing businesses and partnerships: Valuing the business
- IHTM25081: Valuing businesses and partnerships: Valuing the business: Investigating the profit and loss account
- IHTM25082: Valuing businesses and partnerships: Valuing the business: Investigating the balance sheet
- IHTM25083: Valuing businesses and partnerships: Valuing the business: Adjusting the capital account
- Close sectionValuing businesses and partnerships: What is a partnership
- IHTM25091: Valuing businesses and partnerships: What is a partnership: Introduction
- IHTM25092: Valuing businesses and partnerships: What is a partnership: Investigating partnership deeds
- IHTM25093: Valuing businesses and partnerships: What is a partnership: Cases where there are no deeds
- IHTM25094: Valuing businesses and partnerships: What is a partnership: Limited liability partnerships
- Close sectionValuing businesses and partnerships: Valuing the partnership interest
- IHTM25101: Valuing businesses and partnerships: Valuing the partnership interest: Introduction
- IHTM25102: Valuing businesses and partnerships: Valuing the partnership interest: Partnership share
- IHTM25103: Valuing businesses and partnerships: Valuing the partnership interest: The balance sheet
- IHTM25104: Valuing businesses and partnerships: Valuing the partnership interest: Freehold and leasehold property
- IHTM25105: Valuing businesses and partnerships: Valuing the partnership interest: Agricultural land tenanted by a partnership
- IHTM25106: Valuing businesses and partnerships: Valuing the partnership interest: Agricultural land owned by deceased and occupied by a partnership
- IHTM25107: Valuing businesses and partnerships: Valuing the partnership interest: Milk quotas
- IHTM25108: Valuing businesses and partnerships: Valuing the partnership interest: Goodwill
- IHTM25109: Valuing businesses and partnerships: Valuing the partnership interest: Livestock
- IHTM25110: Valuing businesses and partnerships: Valuing the partnership interest: Other assets
- IHTM25111: Valuing businesses and partnerships: Valuing the partnership interest: Sales
- IHTM25112: Valuing businesses and partnerships: Valuing the partnership interest: Income Tax
- Close sectionValuing businesses and partnerships: Valuing businesses and partnerships
- IHTM25120: Valuing businesses and partnerships: Valuing businesses and partnerships: Fetters
- IHTM25121: Valuing businesses and partnerships: Valuing businesses and partnerships: Relationship between business and agricultural relief
- IHTM25122: Valuing businesses and partnerships: Valuing businesses and partnerships: Instalments
- IHTM25123: Valuing businesses and partnerships: Valuing businesses and partnerships: Partnerships and lifetime transfers
- Close sectionBusiness relief
- Close sectionBusiness relief: Relevant Business Property
- Close sectionBusiness relief: Relevant Business Property: Business interests
- IHTM25151: Business relief: Relevant Business Property - business interests: Rate of relief
- IHTM25152: Business relief: Relevant Business Property - business interests: Property consisting of a business or a business interest
- IHTM25153: Business relief: Relevant Business Property - business interests: Meaning of ‘business’
- IHTM25154: Business relief: Relevant Business Property - business interests: Settled property
- Close sectionBusiness relief: Shareholdings: Unquoted securities - control holding
- Close sectionBusiness relief: Shareholdings: Other holdings of unquoted shares
- Close sectionBusiness relief: Shareholdings: Control holdings of quoted shares or securities
- Close sectionBusiness relief: Relevant Business Property: Land and buildings, machinery and plant
- IHTM25221: Business relief: Relevant Business Property - land and buildings, machinery and plant: Rate of relief
- IHTM25222: Business relief: Relevant Business Property - land and buildings, machinery and plant: Property within s.105(1)(d)
- IHTM25223: Business relief: Relevant Business Property - land and buildings, machinery and plant: Additional user requirement
- IHTM25224: Business relief: Relevant Business Property - land and buildings, machinery and plant: Transferor's interest in the occupying company or partnership
- IHTM25225: Business relief: Relevant Business Property - land and buildings, machinery and plant: Property used by a partnership
- IHTM25226: Business relief: Relevant Business Property - land and buildings, machinery and plant: Settled property
- IHTM25227: Business relief: Relevant Business Property - land and buildings, machinery and plant: Machinery or plant
- Close sectionBusiness relief: Relevant Business Property: Settled property used in the life tenant's business
- IHTM25241: Business relief: Relevant Business Property - settled property used in the life tenant's business: Rate of relief
- IHTM25242: Business relief: Relevant Business Property - settled property used in the life tenant's business: Property within s.105(1)(e)
- IHTM25243: Business relief: Relevant Business Property - settled property used in the life tenant's business: Scope of s.105(1)(e) in practice
- Close sectionBusiness relief: Other Relevant Business Property
- Close sectionBusiness relief: Investment businesses
- IHTM25252: Business Relief: Other Relevant Business Property: Agri-environment schemes
- IHTM25261: Business relief: Investment businesses: Introduction
- IHTM25262: Business relief: Investment businesses: Exceptions
- IHTM25263: Business relief: Investment businesses: Holding companies
- IHTM25264: Business relief: Investment businesses: Holding company and LLP examples
- IHTM25265: Business relief: Investment businesses: Wholly or mainly
- IHTM25266: Business relief: Investment businesses: Property based businesses
- Close sectionBusiness relief: Investment businesses: (Continued...)
- IHTM25271: Business relief: Investment businesses: Property letting
- IHTM25272: Business relief: Investment businesses: Property consisting of a business
- IHTM25273: Business relief: Investment businesses: Meaning of ‘investment’
- IHTM25274: Business relief: Investment businesses: Land as a business asset
- IHTM25275: Business relief: Investment businesses: Lettings of commercial premises
- IHTM25276: Business relief: Investment businesses: Furnished lettings
- IHTM25277: Business relief: Investment businesses: Hotels, Bed and Breakfast, Residential Homes and other accommodation
- IHTM25278: Business relief: Investment businesses: Holiday lettings
- IHTM25279: Business relief: Investment businesses: Caravan sites
- IHTM25280: Business relief: Investment businesses: Other lettings
- Close sectionBusiness relief: Contracts for sale
- Close sectionBusiness relief: The ownership test
- Close sectionBusiness relief: Replacement property
- Close sectionBusiness relief: Successions
- Close sectionBusiness relief: Successive transfers
- Close sectionBusiness relief: Assets excluded from relief
- Close sectionBusiness relief: Assets excluded from relief: Excepted assets
- IHTM25351: Business relief: Assets excluded from relief - excepted assets: Introduction
- IHTM25352: Business relief: Assets excluded from relief - excepted assets: Future use
- IHTM25353: Business relief: Assets excluded from relief - excepted assets: Assets used for personal benefit
- IHTM25354: Business relief: Assets excluded from relief - excepted assets: Part business use of land or buildings
- Close sectionBusiness relief: Lifetime transfers - additional conditions
- IHTM25361: Business relief: Lifetime transfers - additional conditions: Introduction
- IHTM25363: Business relief: Lifetime transfers - additional conditions: The two conditions
- IHTM25364: Business relief: Lifetime transfers - additional conditions: Continuing ownership
- IHTM25365: Business relief: Lifetime transfers - additional conditions: Remaining business property
- IHTM25366: Business relief: Lifetime transfers - additional conditions: Transfers of shares and securities
- IHTM25367: Business relief: Lifetime transfers - additional conditions: The transferee
- IHTM25368: Business relief: Lifetime transfers - additional conditions: Failure to satisfy the conditions
- IHTM25369: Business relief: Lifetime transfers - additional conditions: Replacement property
- IHTM25370: Business relief: Lifetime transfers - additional conditions: Replacement property (additional rule for shares or securities)
- Close sectionBusiness relief: Gifts with reservation
- Close sectionIHTM26000: Calculating the chargeable estate: contents
- Close sectionIntroduction
- Close sectionSpecific gifts
- Close sectionCalculating the chargeable estate
- IHTM26020: Special rule concerning spouse or civil partner exemption
- IHTM26030: Calculation where residue wholly chargeable
- IHTM26040: Calculation where there are no specific gifts
- IHTM26050: Calculation where residue partly chargeable and no chargeable specific gifts
- IHTM26060: Calculation where there are chargeable specific gifts and residue wholly exempt
- Close sectionOther calculations
- Close sectionOther calculations: Step 1 - the starting value of specific gifts
- IHTM26081: Other calculations: Step 1 - the starting value of specific gifts: Introduction
- IHTM26082: Other calculations: Step 1 - the starting value of specific gifts: Two or more gifts of an asset
- IHTM26083: Other calculations: Step 1 - the starting value of specific gifts: Settled gift
- IHTM26084: Other calculations: Step 1 - the starting value of specific gifts: Gift of an annuity
- IHTM26085: Other calculations: Step 1 - the starting value of specific gifts: Circular situation
- IHTM26086: Other calculations: Step 1 - the starting value of specific gifts: Legal rights in Scotland
- Close sectionOther calculations: Step 2 - abatement where there are not enough assets to pay specific gifts in full
- Close sectionOther calculations: Step 3 - interaction
- IHTM26101: Other calculations: Step 3 - interaction: Introduction
- IHTM26102: Other calculations: Step 3 - interaction: Situations where interaction applies
- IHTM26103: Other calculations: Step 3 - interaction: Summary of the interaction provisions
- IHTM26104: Other calculations: Step 3 - interaction: Outline of the interaction procedure
- IHTM26105: Other calculations: Step 3 - interaction: Extent of examination necessary
- IHTM26106: Other calculations: Step 3 - interaction: Specific gifts of relievable property
- IHTM26107: Other calculations: Step 3 - interaction: Anti-avoidance provisions
- IHTM26108: Other calculations: Step 3 - interaction: The appropriate fraction
- IHTM26109: Other calculations: Step 3 - interaction: The appropriate fraction where there are no specific gifts of relievable property
- IHTM26110: Other calculations: Step 3 - interaction: The appropriate fraction where there are specific gifts of relievable property
- Close sectionOther calculations: Step 4 - grossing up
- IHTM26121: Other calculations: Step 4 - grossing up: Background
- IHTM26122: Other calculations: Step 4 - grossing up: How grossing up works
- IHTM26123: Other calculations: Step 4 - grossing up: The specific gifts you should gross up
- IHTM26124: Other calculations: Step 4 - grossing up: How to decide whether specific gifts out of the free estate bear their own tax
- IHTM26125: Other calculations: Step 4 - grossing up: How to decide whether specific gifts out of settled property bear their own tax
- IHTM26126: Other calculations: Step 4 - grossing up: Other property which bears its own tax
- IHTM26127: Other calculations: Step 4 - grossing up: What to do if the value of a gift is dependent upon the amount of an exemption
- IHTM26128: Other calculations: Step 4 - grossing up: Initial procedure for grossing up
- IHTM26129: Other calculations: Step 4 - grossing up: Grossing up where there are any reliefs due
- IHTM26130: Other calculations: Step 4 - grossing up: Grossing up where there are exemptions with a value limit
- IHTM26131: Other calculations: Step 4 - grossing up: Deciding which type of grossing calculation to use
- IHTM26132: Other calculations: Step 4 - grossing up: The grossing calculator
- IHTM26133: Other calculations: Step 4 - grossing up: Grossing up position where (additional) legacies are given under a variation accepted as within IHTA 1984, s 142
- Close sectionOther calculations: Step 4 - simple grossing calculations
- IHTM26141: Other calculations: Step 4 - simple grossing calculations: Introduction
- IHTM26142: Other calculations: Step 4 - simple grossing calculations: Calculation when there is no lifetime cumulation
- IHTM26143: Other calculations: Step 4 - simple grossing calculations: Calculation when there is a lifetime cumulative total which is below the threshold
- IHTM26144: Other calculations: Step 4 - simple grossing calculations: Calculation when there is a lifetime cumulative total in excess of the threshold
- Close sectionOther calculations: Step 4 - four stage grossing calculations
- IHTM26151: Other calculations: Step 4 - four stage grossing calculations: Exceptions where four stage grossing is not necessary
- IHTM26152: Other calculations: Step 4 - four stage grossing calculations: The four stages
- IHTM26153: Other calculations: Step 4 - four stage grossing calculations: Stage 1
- IHTM26154: Other calculations: Step 4 - four stage grossing calculations: Stage 2
- IHTM26155: Other calculations: Step 4 - four stage grossing calculations: Stage 3
- IHTM26156: Other calculations: Step 4 - four stage grossing calculations: Stage 4
- IHTM26157: Other calculations: Step 4 - four stage grossing calculations: Example of a four stage calculation
- IHTM26158: Other calculations: Step 4 - four stage grossing calculations: Example of a four stage calculation where interaction and settled property are also involved
- Close sectionOther calculations: Step 4 - Re Benham type grossing calculations
- Close sectionOther calculations: Step 5 - abatement caused by grossing up
- Close sectionOther calculations: Apportioning the grossed up estate between instalment and non-instalment option property
- Close sectionAllocating the burden of tax
- Close sectionProperty at more than one title
- Close sectionIHTM27000: Foreign property: contents
- Close sectionIntroduction
- Close sectionValuation of assets
- IHTM27023: Valuation Assets: Unlisted foreign shares
- IHTM27031: Valuation Assets: Valuation of foreign bank accounts, debts, household and personal goods
- IHTM27032: Valuation Assets: Deduction of foreign debts
- IHTM27042: Valuation Assets: Loss on sale of foreign land
- IHTM27043: Valuation Assets: Fall in value relief on foreign land or buildings
- IHTM27050: Valuation Assets: Deduction for administration of non-UK assets
- IHTM27052: Valuation Assets: Claims for compensation
- IHTM27053: Valuation Assets: Foreign rulers and sovereign immunity
- IHTM27054: Valuation of assets: usufruct
- Close sectionBlocked Assets
- Close sectionLocality of assets (situs)
- IHTM27071: Locality of assets (situs): Introduction
- IHTM27072: Locality of assets (situs): Unadministered estates
- IHTM27073: Locality of assets (situs): Ships
- IHTM27074: Locality of assets (situs): Land and interests in land
- IHTM27075: Locality of assets (situs): Household and personal goods
- IHTM27076: Locality of assets (situs): Bearer securities
- IHTM27077: Locality of assets (situs): Eurobonds and American Depository Receipts
- Close sectionSpecialty debts
- Close sectionDebts
- Close sectionMoney from a life policy
- IHTM27101: Locality of assets (situs): Money from a life policy: General rule
- IHTM27102: Locality of assets (situs): Money from a life policy: Payment at place other than Head Office
- IHTM27103: Locality of assets (situs): Money from a life policy: Issued at branch office
- IHTM27104: Locality of assets (situs): Money from a life policy: Policies under seal
- Close sectionInscribed and registered securities
- IHTM27121: Locality of assets (situs): Inscribed and registered securities: Usual location
- IHTM27122: Locality of assets (situs): Inscribed and registered securities: Branch registers
- IHTM27123: Locality of assets (situs): Inscribed and registered securities: Effectiveness of register
- IHTM27124: Locality of assets (situs): Inscribed and registered securities: Overseas branch registers of UK companies
- IHTM27125: Locality of assets (situs): Inscribed and registered securities: Duplicate or multiple registers of non-UK companies
- Close sectionCanadian companies
- Close sectionSecurities issued by international organisations
- IHTM27141: Locality of assets (situs): Securities issued by international organisations: List of non-UK situs organisations
- IHTM27142: Locality of assets (situs): Securities issued by international organisations: List of securities given a non-UK designation by the Treasury
- IHTM27143: Locality of assets (situs): Securities issued by international organisations: OECD and Inter-American Development Bank
- IHTM27150: Locality of assets (situs): Securities issued by international organisations: Share certificates endorsed in blank
- Close sectionDouble Taxation Conventions
- Close sectionDouble Taxation Conventions: Exchange of information
- IHTM27163: Double Taxation Conventions: Exchange of information: Why exchange information
- IHTM27164: Double Taxation Conventions: Exchange of information: Information bulletin procedure with convention partners (form 730)
- IHTM27165: Double Taxation Conventions: Exchange of information: List of conventions
- Close sectionDouble Taxation Conventions: Certificate of tax paid
- IHTM27168: Double Taxation Conventions: Certification of tax paid: Republic of Ireland
- IHTM27169: Double Taxation Conventions: Certification of tax paid: South Africa
- IHTM27170: Double Taxation Conventions: Certification of tax paid: USA
- IHTM27171: Double Taxation Conventions: Certification of tax paid: Netherlands
- IHTM27172: Double Taxation Conventions: Certification of tax paid: Sweden
- IHTM27173: Double Taxation Conventions: Certification of tax paid: Switzerland
- IHTM27174: Double Taxation Conventions: Certification of tax paid: France
- IHTM27175: Double Taxation Conventions: Certification of tax paid: Italy
- IHTM27177: Double Taxation Conventions: Certification of tax paid: Certification of disclosure and tax enforcement procedure with USA
- IHTM27178: Double Taxation Conventions: Certification of tax paid: Certification of disclosure and tax enforcement procedure with South Africa
- Close sectionDouble Taxation Conventions: Double Taxation Relief
- Close sectionDouble Taxation Conventions: Procedure with non-convention countries
- IHTM27185: Double Taxation Conventions: Procedure with non-convention countries: Introduction
- IHTM27186: Double Taxation Conventions: Procedure with non-convention countries: Which provisions apply?
- IHTM27187: Double Taxation Conventions: Procedure with non-convention countries: Relief under IHTA84/S159 (2)
- IHTM27188: Double Taxation Conventions: Procedure with non-convention countries: Relief under IHTA84/S159 (3) or S159 (4)
- IHTM27189: Double Taxation Conventions: Procedure with non-convention countries: Relief when both IHTA84/S159 (2) and (3) apply
- Close sectionDouble Taxation Conventions: Procedures
- Close sectionDouble Taxation Conventions: Proper law of settlement
- Close sectionProperty excluded from Inheritance Tax
- IHTM27211: Property excluded from Inheritance Tax: Introduction
- IHTM27212: Property excluded from Inheritance Tax: Foreign unsettled property
- IHTM27220: Property excluded from Inheritance Tax: Foreign settled property with settlor domiciled outside the UK when settlement made
- IHTM27230: Property excluded from Inheritance Tax: Reversionary interest in settled property - whether directly or through a settlement
- Close sectionProperty excluded from Inheritance Tax: Specific British Government Securities
- Close sectionProperty excluded from Inheritance Tax: Specific British Government Securities: discretionary trusts and exempt securities
- IHTM27247: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Introduction
- IHTM27248: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Unknown persons
- IHTM27249: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Charities
- IHTM27250: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Exit charges
- IHTM27251: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Anti-avoidance rules
- IHTM27252: Property excluded from Inheritance Tax: Specific British Government Securities - discretionary trusts and exempt securities: Exceptions for some settled reversions
- Close sectionProperty excluded from Inheritance Tax: Specific British Government Securities cont'd
- IHTM27260: Property excluded from Inheritance Tax: Specific British Government Securities: Exclusion of interest
- IHTM27261: Property excluded from Inheritance Tax: Specific British Government Securities: Exclusion of repayment of Income Tax
- IHTM27262: Property excluded from Inheritance Tax: Specific British Government Securities: Reversionary interest in exempt securities
- IHTM27263: Property excluded from Inheritance Tax: Specific British Government Securities: Exempt securities in unadministered estates
- IHTM27264: Property excluded from Inheritance Tax: Specific British Government Securities: Exempt securities as partnership assets
- Close sectionProperty excluded from Inheritance Tax: Certain specific savings held by taxpayers in Channel Islands or Isle of Man
- Close sectionProperty excluded from Inheritance Tax: Specific property of visiting forces and staff of Allied Headquarters
- IHTM27272: Property excluded from Inheritance Tax: Specific property of visiting forces and staff of Allied Headquarters: Introduction
- IHTM27273: Property excluded from Inheritance Tax: Specific property of visiting forces and staff of Allied Headquarters: Assets excluded
- IHTM27274: Property excluded from Inheritance Tax: Specific property of visiting forces and staff of Allied Headquarters: Qualifying persons
- IHTM27275: Property excluded from Inheritance Tax: Specific property of visiting forces and staff of Allied Headquarters: List of designated countries
- Close sectionIHTM28000: Liabilities: contents
- Close sectionIntroduction
- Close sectionRestricted deductions
- IHTM28010: Restricted deductions: Introduction
- IHTM28011: Restricted deductions: When the provisions apply
- IHTM28012: Restricted deductions: Meaning of ‘maintain’ and ‘enhance’
- IHTM28013: Restricted deductions: Meaning of ‘indirectly’
- IHTM28014: Restricted deductions: Borrowed money used to acquire excluded property
- IHTM28015: Restricted deductions: Disposal of acquired assets where money has been borrowed to acquire excluded property
- IHTM28016: Restricted deductions: Property is no longer excluded where money has been borrowed to acquire excluded property
- IHTM28017: Restricted deductions: Excess liability over value of excluded property where money has been borrowed to acquire excluded property
- IHTM28018: Restricted deductions: Excess liability over property that has become excluded where money has been borrowed to acquire excluded property
- IHTM28019: Restricted deductions: Borrowed money used to acquire assets that qualify for relief
- IHTM28020: Restricted deductions: Borrowed money used to acquire assets that qualify for business relief
- IHTM28021: Restricted deductions: Borrowed money used to acquire assets that qualify for agricultural relief
- IHTM28022: Restricted deductions: Borrowed money used to acquire assets that qualify for both agricultural and business relief
- IHTM28023: Restricted deductions: Borrowed money used to acquire assets that qualify for woodlands relief
- IHTM28024: Restricted deductions: Transfer of relievable assets where borrowed money is used to acquire assets that qualify for relief
- IHTM28025: Restricted deductions: Examples where money has been borrowed to ‘indirectly’ acquire excluded or relievable property
- IHTM28026: Restricted deductions: Partial repayment of loan before tax charge arises
- IHTM28027: Restricted deductions: Repayment of liabilities deducted against the estate on death
- IHTM28028: Restricted deductions: Meaning of ‘out of estate’
- IHTM28029: Restricted deductions: Non-repayment of liabilities deducted against the estate on death
- IHTM28030: Restricted deductions: Interaction with spouse or civil partner exemption where liabilities are deducted against the estate on death
- IHTM28031: Restricted deductions: Investigation of liabilities deducted against the estate on death
- IHTM28032: Restricted deductions: Partial repayment of liabilities after death
- IHTM28033: Restricted deductions: Borrowed money used to fund a foreign currency bank account
- Close sectionInvestigating liabilities
- Close sectionInvestigating liabilities: Annuities
- Close sectionInvestigating liabilities: Capital gains tax
- Close sectionInvestigating liabilities: Contingent liabilities
- Close sectionInvestigating liabilities: Costs & commissions
- IHTM28080: Investigating liabilities: Costs and commissions
- IHTM28081: Investigating liabilities: Costs and commissions: Costs of sale (general)
- IHTM28082: Investigating liabilities: Costs and commissions: Costs of receiver/deputy for a person lacking capacity
- IHTM28083: Investigating liabilities: Costs and commissions: Costs of discharge of Curator Bonis
- IHTM28084: Investigating liabilities: Costs and commissions: Costs of Agents' commission for recovery of an asset
- Close sectionInvestigating liabilities: Divorce and separation payments
- IHTM28090: Investigating liabilities: Divorce and separation payments: Separation, divorce or dissolution of a civil partnership payments
- IHTM28091: Investigating liabilities: Divorce and separation payments: Annuities payable on separation, divorce or dissolution of a civil partnership
- IHTM28092: Investigating liabilities: Divorce and separation payments: Claims for financial relief for divorce under the Matrimonial Causes Act or dissolution of a civil partnership under the Civil Partnership Act 2004
- IHTM28093: Investigating liabilities: Divorce and separation payments: Claims for financial relief under the Family Law (Scotland) Act 1985 or Civil Partnership Act 2004
- IHTM28094: Investigating liabilities: Divorce and separation payments: Interim maintenance orders ceasing on the deceased's death
- Close sectionInvestigating liabilities: Foreign taxes
- IHTM28100: Investigating liabilities: Foreign taxes: Overseas taxes
- IHTM28101: Investigating liabilities: Foreign taxes: Deduction for tax debts in the Republic of Ireland
- IHTM28102: Investigating liabilities: Foreign taxes: Canadian Income Tax
- IHTM28110: Investigating liabilities: Foreign taxes: Future debts
- IHTM28120: Investigating liabilities: Foreign taxes: Future payments incurred under s262
- IHTM28130: Investigating liabilities: Foreign taxes: Gambling debts
- IHTM28140: Investigating liabilities: Foreign taxes: Goods and services
- Close sectionInvestigating liabilities: Income Tax
- IHTM28150: Investigating liabilities: Income Tax
- IHTM28151: Investigating liabilities: Income Tax: Large Income Tax liabilities
- IHTM28152: Investigating liabilities: Income Tax: Income Tax investigation settlements
- IHTM28153: Investigating liabilities: Income Tax: Estimated Income Tax liabilities
- IHTM28154: Investigating liabilities: Income Tax: Income Tax on the disposal of an ‘offshore fund’
- IHTM28155: Investigating liabilities: Income Tax: Income Tax on the disposal of deep discount securities
- IHTM28157: Investigating liabilities: Income Tax: Income Tax on sums receivable following the discontinuance of a business
- IHTM28158: Investigating liabilities: Income Tax: Income Tax payable on the death of a partner in a business
- IHTM28159: Investigating liabilities: Income Tax: Voluntary payments of tax
- IHTM28160: Investigating liabilities: Income Tax: Chargeable gains that give rise to an Income Tax liability when a life insurance policy matures
- Close sectionInvestigating liabilities: Inheritance tax
- Close sectionInvestigating liabilities: Insurance premiums
- Close sectionInvestigating liabilities: Local authority payments
- Close sectionInvestigating liabilities: Medical bills
- Close sectionInvestigating liabilities: Mortgages
- IHTM28210: Investigating liabilities: Mortgages
- IHTM28240: Investigating liabilities: Mortgages: Property repairs
- IHTM28250: Investigating liabilities: Mortgages: Redundancy payments
- IHTM28260: Investigating liabilities: Mortgages: Rents payable in advance
- IHTM28270: Investigating liabilities: Mortgages: Set-aside payments
- IHTM28280: Investigating liabilities: Mortgages: Sums owed to unlisted companies
- Close sectionInvestigating liabilities: Sums payable to third parties
- IHTM28291: Investigating liabilities: Sums payable to third parties: Sums payable to third parties in England and Wales
- IHTM28292: Investigating liabilities: Sums payable to third parties: Sums payable to third parties in Scotland
- IHTM28293: Investigating liabilities: Sums payable to third parties: Extent to which sums payable to third parties are allowable
- Close sectionInvestigating liabilities: Uncashed cheques
- Close sectionInvestigating form IHT419
- Close sectionInvestigating form IHT419: Loans from relatives and friends
- IHTM28321: Investigating form IHT419: Loans from relatives and friends: Obtaining information about loans from friends and relatives
- IHTM28322: Investigating form IHT419: Loans from relatives and friends: Investigating form loans from friends and relatives
- IHTM28323: Investigating form IHT419: Loans from relatives and friends: Is a loan from friends and family allowable?
- IHTM28330: Investigating form IHT419: Loans from relatives and friends: Money spent on behalf of the deceased by a close friend or relative
- IHTM28340: Investigating form IHT419: Loans from relatives and friends: Liabilities relating to an insurance policy
- Close sectionInvestigating form IHT419: Guarantee debts
- IHTM28351: Investigating form IHT419: Guarantee debts: What is a guarantee debt?
- IHTM28352: Investigating form IHT419: Guarantee debts: Obtaining information about a guarantee debt
- IHTM28353: Investigating form IHT419: Guarantee debts: Consideration for a guarantee debt
- IHTM28354: Investigating form IHT419: Guarantee debts: Reimbursement of guaranteed debt
- IHTM28355: Investigating form IHT419: Guarantee debts: Calculating the allowable deduction for a guarantee debt
- IHTM28356: Investigating form IHT419: Guarantee debts: Lifetime transfers on guarantee debts
- IHTM28357: Investigating form IHT419: Guarantee debts: Lifetime transfers on guarantee debts called in and fully paid before death
- Close sectionInvestigating form IHT419: Section 103 FA 1986 liabilities
- IHTM28361: Investigating form IHT419: Section 103 FA 1986 liabilities: Purpose of FA86/s103
- IHTM28362: Investigating form IHT419: Section 103 FA 1986 liabilities: How FA 1986, s 103 works?
- IHTM28363: Investigating form IHT419: Section 103 FA 1986 liabilities: How to identify and handle FA86/s103 debts
- IHTM28364: Investigating form IHT419: Section 103 FA 1986 liabilities: Practical guidance on dealing with FA86/s103 debts
- IHTM28365: Investigating form IHT419: Section 103 FA 1986 liabilities: How FA 1986, s 103 applies when the consideration is ‘property derived from the deceased’
- IHTM28366: Investigating form IHT419: Section 103 FA 1986 liabilities: How FA 1986, s 103 applies when there is ‘consideration given by any person whose resources at any time included property derived from the deceased’
- IHTM28367: Investigating form IHT419: Section 103 FA 1986 liabilities: Definition of property derived from the deceased for FA 1986, s 103 purposes
- IHTM28368: Investigating form IHT419: Section 103 FA 1986 liabilities: When property derived from the deceased can be disregarded for FA 1986, s 103 purposes?
- IHTM28369: Investigating form IHT419: Section 103 FA 1986 liabilities: Allowing part of a debt under FA 1986, s 103 (2)
- IHTM28370: Investigating form IHT419: Section 103 FA 1986 liabilities: Double charges following disallowance of a debt under FA 1986, s 103
- Close sectionLaw relating to debts
- Close sectionLaw relating to debts: Property against which deductions may be made
- IHTM28391: Law relating to debts: Property against which deductions may be made: General rules for deducting liabilities against property
- IHTM28392: Law relating to debts: Property against which deductions may be made: Deducting liabilities that are charged or fixed to specific property
- IHTM28393: Law relating to debts: Property against which deductions may be made: Deducting business debts
- IHTM28394: Law relating to debts: Property against which deductions may be made: Deducting foreign debts
- IHTM28395: Law relating to debts: Property against which deductions may be made: Deducting liabilities where there is excluded property
- IHTM28396: Law relating to debts: Property against which deductions may be made: Deducting UK debts when there is both UK and foreign property in the estate
- IHTM28397: Law relating to debts: Property against which deductions may be made: Dealing with deficits
- Close sectionIHTM29000: Enquiry procedures and yield: contents
- Close sectionEnquiry procedures
- Close sectionEnquiries
- IHTM29011: Enquiries: Summary
- IHTM29012: Enquiries: What constitutes an enquiry?
- IHTM29013: Enquiries: What does not constitute an enquiry?
- IHTM29014: Enquiries: Referrals to specialists
- IHTM29025: Enquiries: Penalty enquiries
- IHTM29026: Enquiries: Late accounts
- IHTM29031: Enquiries: Selecting a case for enquiry
- Close sectionYield
- Close sectionGovernance
- Close sectionIHTM30000: Liability and payment of tax: contents
- Close sectionIntroduction
- Close sectionLiability
- Close sectionLiability: Liability on death transfers
- IHTM30021: Liability: Liability on death transfers: The persons liable
- IHTM30022: Liability: Liability on death transfers: Other unsettled property (except GWRs)
- IHTM30023: Liability: Liability on death transfers: Settled property in which deceased had a qualifying interest in possession
- IHTM30024: Liability: Liability on death transfers: Succession in Scotland
- IHTM30025: Liability: Liability on death transfers: Interests under Superannuation Schemes
- IHTM30026: Liability: Liability on death transfers: Priorities
- Close sectionLiability: Definition and extent of liability
- IHTM30031: Liability: Definition and extent of liability: Personal representatives
- IHTM30032: Liability: Definition and extent of liability: Extent of a personal representative's liability
- IHTM30033: Liability: Definition and extent of liability: Nature of a personal representative's liability
- IHTM30034: Liability: Definition and extent of liability: Trustees
- IHTM30035: Liability: Definition and extent of liability: Persons liable under S200(1)(c)
- IHTM30036: Liability: Definition and extent of liability: Persons excluded
- IHTM30037: Liability: Definition and extent of liability: Property settled before the death
- IHTM30038: Liability: Definition and extent of liability: Particular situations
- IHTM30039: Liability: Definition and extent of liability: Policies effected by a person who dies domiciled outside the UK
- Close sectionLiability: Liability on potentially exempt transfers (PETs)
- IHTM30041: Liability: Liability on potentially exempt transfers (PETs): Persons liable
- IHTM30042: Liability: Liability on potentially exempt transfers (PETs): Priorities
- IHTM30043: Liability: Liability on potentially exempt transfers (PETs): Recourse to transferor's personal representatives
- IHTM30044: Liability: Liability on potentially exempt transfers (PETs): Practice relating to personal representatives
- Close sectionLiability: Definition and extent of liability (PETs)
- IHTM30051: Liability: Definition and extent of liability (PETs): Transferee
- IHTM30052: Liability: Definition and extent of liability (PETs): Persons liable under S199(1)(c)
- IHTM30053: Liability: Definition and extent of liability (PETs): Persons excluded
- IHTM30054: Liability: Definition and extent of liability (PETs): Objects of a relevant property trust
- Close sectionLiability: Liability on lifetime transfers chargeable when made
- Close sectionLiability: Definition and extent of liability (lifetime transfers chargeable when made)
- IHTM30071: Liability: Definition and extent of liability (lifetime transfers chargeable when made): Transferor
- IHTM30072: Liability: Definition and extent of liability (lifetime transfers chargeable when made): Extent of liability of persons secondarily liable
- IHTM30073: Liability: Definition and extent of liability (lifetime transfers chargeable when made): Spouse or civil partner of transferor
- IHTM30074: Liability: Definition and extent of liability (lifetime transfers chargeable when made): Limitation on spouse's or civil partner's liability
- Close sectionLiability: Liability on gifts with reservation (GWRs)
- IHTM30081: Liability: Liability on gifts with reservation (GWRs): Introduction
- IHTM30082: Liability: Liability on gifts with reservation (GWRs): Persons liable when treated as a PET
- IHTM30083: Liability: Liability on gifts with reservation (GWRs): Persons liable when treated as part of death estate
- IHTM30084: Liability: Liability on gifts with reservation (GWRs): Definition and extent of liability
- Close sectionLiability: Liability on settled property
- Close sectionLiability: Definition and extent of liability (settled property)
- IHTM30101: Liability: Definition and extent of liability (settled property): Trustees
- IHTM30102: Liability: Definition and extent of liability (settled property): Persons other than trustees
- IHTM30103: Liability: Definition and extent of liability (settled property): Beneficiaries
- IHTM30104: Liability: Definition and extent of liability (settled property): Recipients of benefit
- Close sectionLiability: The settlor
- IHTM30111: Liability: The settlor: Definitions
- IHTM30112: Liability: The settlor: Limitations on settlor's liability
- IHTM30113: Liability: The settlor: PETs
- IHTM30114: Liability: The settlor: Death charge on lifetime transfers chargeable when made
- IHTM30115: Liability: The settlor: Settlement made before 11 December 1974
- Close sectionLiability: Liability in special cases
- IHTM30121: Liability: Liability in special cases: Heritage property
- IHTM30122: Liability: Liability in special cases: Discretionary trust charges and heritage property
- IHTM30123: Liability: Liability in special cases: Woodlands
- IHTM30124: Liability: Liability in special cases: Transfers by a close company
- IHTM30125: Liability: Liability in special cases: liability of purchaser
- Close sectionGeneral payment rule
- Close sectionDue date for payment
- IHTM30151: Due date for payment: Death transfers
- IHTM30152: Due date for payment: Other charges arising on death
- IHTM30153: Due date for payment: Lifetime transfers chargeable when made
- IHTM30154: Due date for payment: Discretionary trusts
- IHTM30155: Due date for payment: Conditionally exempt property
- IHTM30156: Due date for payment: Woodlands
- IHTM30157: Due date for payment: Payment before due date
- IHTM30158: Due date for payment: Request to pay in advance
- IHTM30159: Due date for payment: Postponing payment
- Close sectionTax payable on taking out of grant
- Close sectionTax payable on taking out of grant: Payment methods
- IHTM30181: Tax payable on taking out of grant: Payment methods: Payment by cheque
- IHTM30182: Tax payable on taking out of grant: Payment methods: Payment by electronic transfer
- IHTM30183: Tax payable on taking out of grant: Payment methods: Payment by National Savings or government stock
- IHTM30184: Tax payable on taking out of grant: Payment methods: Payment by IHT Direct Payment Scheme
- IHTM30185: Tax payable on taking out of grant: Payment methods: Payment by transfer of land or chattels
- IHTM30186: Tax payable on taking out of grant: Payment methods: Payment by Certificates of Tax Deposit
- IHTM30187: Tax payable on taking out of grant: Payment methods: Payment out of tax repayments
- Close sectionInstalment option
- Close sectionInstalment option: Payment by instalments
- IHTM30201: Instalment option: Payment by instalments: When instalments are payable
- IHTM30202: Instalment option: Payment by instalments: Election
- IHTM30203: Instalment option: Payment by instalments: Request to elect for instalments after tax paid in one sum
- IHTM30204: Instalment option: Payment by instalments: Option where additional tax payable
- Close sectionInstalment option: Transfers on death
- IHTM30211: Instalment option: Transfers on death: Introduction
- IHTM30212: Instalment option: Transfers on death: Categories of qualifying property
- IHTM30213: Instalment option: Transfers on death: Land
- IHTM30214: Instalment option: Transfers on death: Businesses and interests in businesses
- IHTM30215: Instalment option: Transfers on death: Shares and securities
- IHTM30216: Instalment option: Transfers on death: Meaning of ‘unquoted’ for instalments
- IHTM30217: Instalment option: Transfers on death: Control holdings of shares and securities
- IHTM30218: Instalment option: Transfers on death: Unquoted shares - undue hardship
- IHTM30219: Instalment option: Transfers on death: Unquoted shares - 20% tax test
- IHTM30220: Instalment option: Transfers on death: Unquoted shares - £20,000 value and 10% nominal value test
- Close sectionInstalment option: PETs
- Close sectionInstalment option: Transfers and other events on or after 17 March 1987
- IHTM30241: Instalment option: Transfers and other events on or after 17 March 1987: The conditions
- IHTM30242: Instalment option: Transfers and other events on or after 17 March 1987: Unquoted shares
- IHTM30243: Instalment option: Transfers and other events on or after 17 March 1987: Settled property
- IHTM30244: Instalment option: Transfers and other events on or after 17 March 1987: The transferee
- Close sectionInstalment option: Qualifying property (PETs)
- IHTM30251: Instalment option: Qualifying property (PETs): Land
- IHTM30252: Instalment option: Qualifying property (PETs): Businesses and interest in businesses
- IHTM30253: Instalment option: Qualifying property (PETs): Control holdings
- IHTM30254: Instalment option: Qualifying property (PETs): Unquoted shares or securities - undue hardship
- IHTM30255: Instalment option: Qualifying property (PETs): Unquoted shares or securities - 20% tax test
- IHTM30256: Instalment option: Qualifying property (PETs): Unquoted shares - £20,000 value and 10% nominal value
- Close sectionInstalment option: Lifetime transfers chargeable when made
- IHTM30261: Instalment option: Lifetime transfers chargeable when made: Introduction
- IHTM30262: Instalment option: Lifetime transfers chargeable when made: Tax immediately payable
- IHTM30263: Instalment option: Lifetime transfers chargeable when made: Additional tax payable on death of transferor
- IHTM30264: Instalment option: Lifetime transfers chargeable when made: Previous legislation and lifetime transfers
- IHTM30265: Instalment option: Lifetime transfers chargeable when made: Qualifying property
- Close sectionInstalment option: Gifts with reservation
- Close sectionInstalment option: Lifetime cesser of an interest in possession
- IHTM30281: Instalment option: Lifetime cesser of a qualifying interest in possession: Introduction
- IHTM30282: Instalment option: Lifetime cesser of a qualifying interest in possession: Cesser a PET
- IHTM30283: Instalment option: Lifetime cesser of a qualifying interest in possession: Cesser taxable when made
- Close sectionInstalment option: Relevant property trusts
- Close sectionInstalment option: Woodlands
- Close sectionInstalment option: Attribution process
- Close sectionInstalment option: End of instalment option
- IHTM30321: Instalment option: End of instalment option: Introduction
- IHTM30322: Instalment option: End of instalment option: Meaning of ‘sold’
- IHTM30323: Instalment option: End of instalment option: Underwriting interests
- IHTM30324: Instalment option: End of instalment option: Chargeable transfers otherwise than on death
- Close sectionInterest
- Close sectionInterest: Rates of interest
- Close sectionInterest: Interest period
- Close sectionInterest: Special rules
- IHTM30371: Interest: Special rules: Inheritance (Provision for Family & Dependants) Act 1975
- IHTM30372: Interest: Special rules: Voidable transfers
- IHTM30373: Interest: Special rules: Property accepted in satisfaction of tax
- IHTM30374: Interest: Special rules: Scotland - legitim
- IHTM30375: Interest: Special rules: Settled property - sales and mortgages of reversionary interests
- Close sectionAdjustment of tax paid
- Close sectionAdjustment of tax paid: Reopening IHT liabilities
- Close sectionAdjustment of tax paid: Reconsideration of value
- Close sectionAdjustment of tax paid: Reconsideration of value: Reconsideration by taxpayers
- IHTM30431: Adjustment of tax paid: Reconsideration of value - reconsideration by taxpayers: Bars to reopening value
- IHTM30432: Adjustment of tax paid: Reconsideration of value - reconsideration by taxpayers: Changed circumstances
- IHTM30433: Adjustment of tax paid: Reconsideration of value - reconsideration by taxpayers: Unquoted shares
- IHTM30434: Adjustment of tax paid: Reconsideration of value - reconsideration by taxpayers: Land and buildings
- IHTM30435: Adjustment of tax paid: Reconsideration of value - reconsideration by taxpayers: Decrease requested
- Close sectionAdjustment of tax paid: Reconsideration of value: Reconsideration by HMRC
- IHTM30441: Adjustment of tax paid: Reconsideration of value - reconsideration by HMRC: General rules
- IHTM30442: Adjustment of tax paid: Reconsideration of value - reconsideration by HMRC: Agreements
- IHTM30443: Adjustment of tax paid: Reconsideration of value - reconsideration by HMRC: Valuation Office Agency
- IHTM30444: Adjustment of tax paid: Reconsideration of value - reconsideration by HMRC: Shares and Assets Valuation
- IHTM30445: Adjustment of tax paid: Reconsideration of value - reconsideration by HMRC: Effect of a sale
- Close sectionAdjustment of tax paid: Determination of questions on previous view of the law
- IHTM30451: Adjustment of tax paid: Determination of questions on previous view of the law: Scope of IHTA84/S255
- IHTM30452: Adjustment of tax paid: Determination of questions on previous view of the law: HMRC law
- IHTM30453: Adjustment of tax paid: Determination of questions on previous view of the law: Disputed cases
- IHTM30454: Adjustment of tax paid: Determination of questions on previous view of the law: Payment and acceptance of tax
- IHTM30455: Adjustment of tax paid: Determination of questions on previous view of the law: Delay by HMRC
- IHTM30456: Adjustment of tax paid: Determination of questions on previous view of the law: Instalment cases
- IHTM30457: Adjustment of tax paid: Determination of questions on previous view of the law: Amendments after the change of practice
- Close sectionAdjustment of tax paid: Limitation of liability by lapse of time
- IHTM30461: Adjustment of tax paid: Limitation of liability by lapse of time: Statutory provisions
- IHTM30462: Adjustment of tax paid: Limitation of liability by lapse of time: Time limits for recovery of unpaid tax
- IHTM30463: Adjustment of tax paid: Limitation of liability by lapse of time: Provisional calculations
- IHTM30464: Adjustment of tax paid: Limitation of liability by lapse of time: Property in the hands of purchasers
- IHTM30465: Adjustment of tax paid: Limitation of liability by lapse of time: Offshore matter and offshore transfers
- Close sectionRemissions
- Close sectionRemissions: Compromise cases
- Close sectionRemissions: Erroneous or excessive repayments of tax
- IHTM30551: Remissions: Erroneous or excessive repayments of tax: Over-repayments to be reported
- IHTM30552: Remissions: Erroneous or excessive repayments of tax: Repayment of deposits
- IHTM30553: Remissions: Erroneous or excessive repayments of tax: Recovery procedures
- IHTM30554: Remissions: Erroneous or excessive repayments of tax: Interest supplement
- Close sectionIHTM31000: Assessing: contents
- Close sectionIntroduction
- Close sectionCalculations
- Close sectionCalculation principles
- IHTM31011: Calculation principles: Entries
- IHTM31012: Calculation principles: Assessment groups
- IHTM31013: Calculation principles: Apportioning the tax charge
- IHTM31014: Calculation principles: Types of calculation
- IHTM31015: Calculation principles: The tax calculation (death cases)
- IHTM31016: Calculation principles: The tax calculation (settlement cases)
- IHTM31017: Calculation principles: Interest
- IHTM31018: Calculation principles: When to raise calculations
- IHTM31019: Calculation principles: Withdrawing calculations
- IHTM31020: Calculation principles: Examples as to when calculations should not be withdrawn
- IHTM31022: Calculation principles: Reminding for payment of calculations
- Close sectionExamples of calculations
- IHTM31030: Examples of calculations: Calculation on death where lifetime transfers are less than the nil-rate band
- IHTM31031: Examples of calculations: Calculation on death where lifetime transfers are more than the nil-rate band
- IHTM31032: Examples of calculations: Calculation where there is transferable nil-rate band
- IHTM31033: Examples of calculations: Calculation where there is quick succession relief (QSR)
- IHTM31034: Examples of calculations: Calculation with reduced rate where part of the estate passes to charity
- IHTM31035: Examples of calculations: Calculation where there is residence nil rate band
- Close sectionCOMPASS
- Close sectionCOMPASS: Viewing your records
- IHTM31111: COMPASS: Viewing your records: The main window
- IHTM31112: COMPASS: Viewing your records: Case index
- IHTM31113: COMPASS: Viewing your records: Case Summary
- IHTM31114: COMPASS: Viewing your records: File menu
- IHTM31115: COMPASS: Viewing your records: Amend menu
- IHTM31116: COMPASS: Viewing your records: Assessment menu
- IHTM31117: COMPASS: Viewing your records: Options menu
- IHTM31118: COMPASS: Viewing your records: Window and help menu
- Close sectionCOMPASS: Making amendments
- IHTM31131: COMPASS: Making amendments: Selecting the material to amend
- IHTM31132: COMPASS: Making amendments: NIOP assets and liabilities
- IHTM31133: COMPASS: Making amendments: New IOP records
- IHTM31134: COMPASS: Making amendments: IOP assets and liabilities
- IHTM31135: COMPASS: Making amendments: Reliefs and exemptions
- IHTM31136: COMPASS: Making amendments: New Entries
- IHTM31137: COMPASS: Making amendments: Deleting an Entry or assessment group
- IHTM31150: COMPASS: Making amendments: Dealing with deficits
- Close sectionCOMPASS: Calculations
- IHTM31171: COMPASS: Calculations: Preparation
- IHTM31181: COMPASS: Calculations: Initiation
- IHTM31182: COMPASS: Calculations: The ‘Calculation of Inheritance Tax’ window
- IHTM31183: COMPASS: Calculations: NIOP assessment
- IHTM31184: COMPASS: Calculations: IOP assessment
- IHTM31185: COMPASS: Calculations: IOP (WIR) assessment
- IHTM31186: COMPASS: Calculations: Amendments box
- IHTM31187: COMPASS: Calculations: The effective date
- IHTM31188: COMPASS: Calculations: Tax previously paid
- IHTM31189: COMPASS: Calculations: Reliefs against tax
- IHTM31190: COMPASS: Calculations: Money (including deposits)
- IHTM31191: COMPASS: Calculations: Notes
- IHTM31192: COMPASS: Calculations: Adjustments to interest
- IHTM31193: COMPASS: Calculations: ‘OK’ or ‘Cancel’
- IHTM31194: COMPASS: Calculations: Calculations out of sequence
- IHTM31195: COMPASS: Calculations: Adjustments to COMPASS calculations
- IHTM31210: COMPASS: Calculations: Issuing assessments
- IHTM31211: COMPASS: Calculations: Marking calculations as paid
- IHTM31212: COMPASS: Calculations: Unpaying calculations
- IHTM31213: COMPASS: Calculations: Withdrawing calculations
- Close sectionCOMPASS: Chargeable lifetime transfers
- IHTM31231: COMPASS: Chargeable lifetime transfers: Introduction
- IHTM31232: COMPASS: Chargeable lifetime transfers: Failed PETS
- IHTM31233: COMPASS: Chargeable lifetime transfers: Additional charges
- IHTM31234: COMPASS: Chargeable lifetime transfers: Immediately chargeable transfers
- IHTM31235: COMPASS: Chargeable lifetime transfers: Creating a record for an immediately chargeable transfer
- Close sectionCOMPASS: Settlement cases
- Close sectionCOMPASS: Other features
- Close sectionAssessment calculations
- Close sectionAssessment calculations: Death estate
- IHTM31412: Assessment calculations: Death estate: Working out the aggregate chargeable transfer
- IHTM31413: Assessment calculations: Death estate: PLCT
- IHTM31416: Assessment calculations: Death estate: Revision to original tax charge
- IHTM31417: Assessment calculations: Death estate: Reliefs against tax
- IHTM31418: Assessment calculations: Death estate: IOP cases
- IHTM31419: Assessment calculations: Death estate: Tax previously paid
- IHTM31420: Assessment calculations: Death estate: Interest
- Close sectionAssessment calculations: Lifetime events
- Close sectionAssessment calculations: Recapture charges
- IHTM31491: Assessment calculations: Recapture charges: When the charges arise
- IHTM31492: Assessment calculations: Recapture charges: Calculating the tax on disposal of woodlands
- IHTM31493: Assessment calculations: Recapture charges: Calculating the tax on cessation of Conditional Exemption
- IHTM31494: Assessment calculations: Recapture charges: Next action
- Close sectionAssessment calculations: Deficits
- Close sectionCalculating interest
- IHTM31511: Calculating interest: The interest calculator
- IHTM31512: Calculating interest: Simple cases
- IHTM31513: Calculating interest: Money on deposit
- IHTM31514: Calculating interest: Transfer of deposit between files
- IHTM31515: Calculating interest: IT and CGT repayments
- IHTM31516: Calculating interest: Repayment supplement on IT and CGT repayments
- IHTM31517: Calculating interest: IOP cases
- IHTM31518: Calculating interest: Increase in total tax in IOP cases
- IHTM31519: Calculating interest: Decrease in total tax in IOP cases
- IHTM31531: Calculating interest: General interest charge on IOP (WIR) cases
- IHTM31532: Calculating interest: Increase in total IOP (WIR) tax
- IHTM31533: Calculating interest: Decrease in total IOP (WIR) tax
- IHTM31534: Calculating interest: Sales on IOP (WIR) cases
- IHTM31540: Calculating interest: Additional interest
- IHTM31550: Calculating interest: Manual adjustments to COMPASS interest calculations
- IHTM31560: Calculating interest: Deposits
- IHTM31570: Calculating interest: Remissions and discharges
- Close sectionRepayments
- IHTM31601: Repayments: Introduction
- IHTM31602: Repayments: Overview of preparing a repayment
- IHTM31603: Repayments: Authority to repay
- IHTM31604: Repayments: Preparation of repayments
- IHTM31611: Repayments: Summary
- IHTM31612: Repayments: Simple cases
- IHTM31613: Repayments: Complicated cases
- IHTM31614: Repayments: Adjusting for additional interest charges
- IHTM31615: Repayments: IOP without interest relief
- IHTM31616: Repayments: IOP(WIR)
- IHTM31641: Repayments: Sect 6
- IHTM31645: Repayments: Payee(s) and address for communications ON Sect 6
- IHTM31646: Repayments: Interest supplement details
- IHTM31647: Repayments: Reviewing officer's check
- IHTM31648: Repayments: RSO's check
- IHTM31660: Repayments: Sect 83
- IHTM31661: Repayments: Informing the taxpayer
- IHTM31662: Repayments: Authorised payee
- IHTM31663: Repayments: Repayments over £150,000
- IHTM31665: Repayments: Interest supplement
- IHTM31666: Repayments: Satisfaction of assessment by deposit and repayment of balance
- IHTM31667: Repayments: IHT Direct Payment Scheme cases
- Close sectionRepayments: Offset repayments
- IHTM31681: Repayments: Offset repayments: Introduction
- IHTM31682: Repayments: Offset repayments: Setting off money at the same entry
- IHTM31683: Repayments: Offset repayments: Setting off money at a different entry
- IHTM31685: Repayments: Offset repayments: Sending calculations to the taxpayer
- IHTM31686: Repayments: Offset repayments: Non-payment of assessments
- Close sectionChecking repayments
- Close sectionOther repayment issues
- Close sectionDeposits
- IHTM31751: Deposits: Introduction
- IHTM31752: Deposits: Using the deposit
- IHTM31753: Deposits: More than one assessment
- IHTM31754: Deposits: Retention of deposits
- IHTM31755: Deposits: Offer to place money on deposit by the taxpayer
- IHTM31756: Deposits: Money attributed to the wrong file
- IHTM31757: Deposits: Problems with deposits
- Close sectionCTDs
- Close sectionSAGE
- IHTM31851: SAGE: Introduction
- IHTM31852: SAGE: Forms
- IHTM31861: SAGE: Recording calculation details
- IHTM31862: SAGE: Inputting COMPASS information
- IHTM31863: SAGE: Inputting template or manuscript assessment information
- IHTM31864: SAGE: The adjustments box
- IHTM31866: SAGE: Matching payments received
- IHTM31867: SAGE: Pre-grant payments and calculations
- IHTM31868: SAGE: Deposits
- IHTM31869: SAGE: Payments received before SAGE
- IHTM31870: SAGE: Unpaying calculations
- IHTM31871: SAGE: Repayments
- IHTM31872: SAGE: Requests for receipts
- IHTM31891: SAGE: What is a transaction report?
- IHTM31892: SAGE: SAGE record in COMPASS
- IHTM31893: SAGE: The full transaction printout
- IHTM31894: SAGE: Closing cases
- IHTM31895: SAGE: Balancing the record
- Close sectionDealing with cheques
- Close sectionDealing with cheques: Liaison with Accounts and Cashiers
- Close sectionTransferring money
- Close sectionIHTM32000: Progressing files: contents
- Close sectionIHTM33000: Loss on sale of land: contents
- Close sectionSummary
- Close sectionLoss on sale of land
- Close sectionProcedures
- IHTM33022: Procedures: Issuing form IHT 38
- IHTM33023: Procedures: Who is responsible for dealing with a claim for relief
- IHTM33026: Procedures: Claims to substitute a higher sale value within three years of death
- IHTM33031: Procedures: Has form IHT 38 been completed correctly?
- IHTM33033: Procedures: Checking form IHT 38
- IHTM33034: Procedures: What you should do if any of the questions on form IHT 38 are answered ‘Yes’
- IHTM33035: Procedures: Valuation Office Agency (VOA) referrals
- IHTM33036: Procedures: Referrals to Technical
- IHTM33041: Procedures: Raising enquiries
- IHTM33043: Procedures: What you should do when the relief is agreed
- IHTM33044: Procedures: Provisional relief
- IHTM33045: Procedures: Finalising the relief
- IHTM33046: Procedures: Notifying tax offices of revised values
- Close sectionAppropriate person
- Close sectionInterest in land
- Close sectionSales
- IHTM33071: Sales: Date of sale or purchase
- IHTM33072: Sales: Sale price
- IHTM33073: Sales: Sale value
- IHTM33074: Sales: Sales in the fourth year after death
- IHTM33081: Sales: Sales excluded from relief: Non qualifying sales
- IHTM33082: Sales: Sales excluded from relief: Examples of qualifying and non-qualifying sales
- IHTM33083: Sales: Sales excluded from relief: Small changes in value
- IHTM33090: Sales: Sales excluded from relief: More than one interest in land sold
- IHTM33091: Sales: Sales excluded from relief: Compulsory purchase
- IHTM33100: Value on death: Meaning
- Close sectionAdjustments to sale price
- Close sectionChanges in the interest or underlying land
- IHTM33121: Changes in the interest or underlying land: General
- IHTM33122: Changes in the interest or underlying land: Where revaluation is for less than the death value
- IHTM33123: Changes in the interest or underlying land: Where revaluation is for more than the death value
- IHTM33124: Changes in the interest or underlying land: Structurally unsound property
- IHTM33130: Changes in the interest or underlying land: Statutory compensation received
- IHTM33131: Changes in the interest or underlying land: Leases
- IHTM33132: Changes in the interest or underlying land: Valuation with, and sale without, other land
- Close sectionNon-qualifying sales
- Close sectionPurchases
- Close sectionCalculating the loss on a sale of joint property
- Close sectionIHTM34000: Loss on sale of shares: contents
- Close sectionSummary
- Close sectionBackground
- Close sectionQualifying investments
- IHTM34131: Qualifying investments: What are qualifying investments?
- IHTM34132: Qualifying investments: Non-qualifying investments
- IHTM34134: Qualifying investments: Shares temporarily suspended at date of death
- IHTM34135: Qualifying investments: Share option schemes
- IHTM34136: Qualifying investments: Underwriting deposits
- IHTM34137: Qualifying investments: Unadministered estates
- IHTM34138: Qualifying investments: Reversionary interests
- IHTM34139: Qualifying investments: Shares held by a partnership
- IHTM34140: Qualifying investments: Foreign stock exchanges
- IHTM34141: Qualifying investments: Open ended investment companies (OEIC)
- Close sectionSales
- IHTM34151: Sales: The basic condition
- IHTM34152: Sales: Date of sale
- IHTM34153: Sales: Appropriations
- IHTM34154: Sales: Exchanges
- IHTM34155: Sales: Unsaleable investments
- IHTM34156: Sales: Suspension of shares
- IHTM34157: Sales: Cancellation of shares
- IHTM34158: Sales: Special treatment of shares in Northern Rock and Bradford & Bingley
- Close sectionAppropriate person
- IHTM34161: Appropriate person: Basic condition
- IHTM34162: Appropriate person: Separate claims by legal personal representatives and trustees
- IHTM34163: Appropriate person: Death of legal personal representative or trustee
- IHTM34164: Appropriate person: Personal Equity Plans (PEPs) and Individual Savings Accounts (ISAs)
- Close sectionCalculating the loss
- IHTM34171: Calculating the loss: What is an ‘overall loss’?
- IHTM34172: Calculating the loss: How is the loss calculated?
- IHTM34173: Calculating the loss: Value on death
- IHTM34174: Calculating the loss: Interest on Government securities
- IHTM34175: Calculating the loss: Call
- IHTM34176: Calculating the loss: Sale value
- IHTM34177: Calculating the loss: Capital payments
- IHTM34178: Calculating the loss: Foreign shares or investments
- Close sectionChanges in shareholdings
- IHTM34181: Changes in shareholdings: Changes in the capitalisation of a company
- IHTM34182: Changes in shareholdings: Date of death value for the whole of the new holding
- IHTM34183: Changes in shareholdings: Date of death value for investments sold
- IHTM34184: Changes in shareholdings: Investments forming part of a new holding
- IHTM34185: Changes in shareholdings: Bonus issues
- IHTM34186: Changes in shareholdings: Renounced bonus issues
- IHTM34187: Changes in shareholdings: Rights issue
- IHTM34188: Changes in shareholdings: Rights sold
- IHTM34189: Changes in shareholdings: Rights taken up and sold
- IHTM34190: Changes in shareholdings: Rights not taken up or sold
- IHTM34191: Changes in shareholdings: Rights disposed of without consideration
- IHTM34192: Changes in shareholdings: Part of rights sold, balance taken up as shares
- IHTM34193: Changes in shareholdings: Acquisitions prior to sale
- Close sectionRestrictions on relief
- IHTM34211: Restrictions on relief: Introduction
- IHTM34212: Restrictions on relief: The restriction
- IHTM34213: Restrictions on relief: Purchases by the ‘appropriate’ person
- IHTM34214: Restrictions on relief: Purchases of ‘qualifying investments’
- IHTM34215: Restrictions on relief: Prior purchase of similar shares
- IHTM34220: Restrictions on relief: Part of holding only in the deceased's estate
- IHTM34230: Restrictions on relief: Loss on sale is greater than the original date of death value
- Close sectionAttribution of values to specific investments
- IHTM34241: Attribution of values to specific investments: Summary
- IHTM34242: Attribution of values to specific investments: Payment of ‘call’
- IHTM34243: Attribution of values to specific investments: Changes in the capitalisation of a company
- IHTM34244: Attribution of values to specific investments: Purchases of qualifying investments
- IHTM34245: Attribution of values to specific investments: Example of how values are revised under S.187(3)
- Close sectionIHTM35000: Alterations to the devolution of an estate: contents
- Close sectionIntroduction
- Close sectionProvisions which relate to changes in the devolution of an estate
- Close sectionInstruments of Variation
- Close sectionInstruments of Variation: Published guidelines
- IHTM35021: Instruments of Variation: Published guidelines: Introduction
- IHTM35022: Instruments of Variation: Published guidelines: Form of an instrument
- IHTM35023: Instruments of Variation: Published guidelines: Who should make the instrument?
- IHTM35024: Instruments of Variation: Published guidelines: Time limit
- IHTM35025: Instruments of Variation: Published guidelines: Destination of property must be varied
- IHTM35026: Instruments of Variation: Published guidelines: Examples where the destination of property is varied
- IHTM35027: Instruments of Variation: Published guidelines: Notice of election must be given where instrument executed prior to 1 August 2002
- IHTM35028: Instruments of Variation: Published guidelines: Statement of Intent must be included where instrument executed on or after 1 August 2002
- IHTM35029: Instruments of Variation: Published guidelines: Calculation of additional tax and form IOV2
- Close sectionInstruments of Variation: Form IOV1
- Close sectionInstruments of Variation: Who should make the instrument?
- IHTM35041: Instruments of Variation: Who should make the instrument?: Introduction
- IHTM35042: Instruments of Variation: Who should make the instrument?: Dead beneficiaries
- IHTM35043: Instruments of Variation: Who should make the instrument?: Income between two deaths
- IHTM35044: Instruments of Variation: Who should make the instrument?: Limited interests
- IHTM35045: Instruments of Variation: Who should make the instrument?: Interests of persons not party to the instrument (England, Wales and Northern Ireland)
- IHTM35046: Instruments of Variation: Who should make the instrument?: Interests of persons not party to the instrument (Scotland)
- IHTM35047: Instruments of Variation: Who should make the instrument?: Examples where the interests of persons not party to the instrument are affected
- IHTM35048: Instruments of Variation: Who should make the instrument?: Women past the age of child bearing
- Close sectionInstruments of Variation: Has an election been made?
- IHTM35051: Instruments of Variation: Has an election been made?: Introduction
- IHTM35052: Instruments of Variation: Has an election been made?: Requirements for a valid election
- IHTM35053: Instruments of Variation: Has an election been made?: Form of an election
- IHTM35054: Instruments of Variation: Has an election been made?: Persons making the instrument
- IHTM35056: Instruments of Variation: Has an election been made?: The six month time limit
- IHTM35058: Instruments of Variation: Has an election been made?: Instruments executed on or after 1 August 2002 - Has a statement of intent been included?
- IHTM35060: Instruments of Variation: Has an election been made?: Has Stamp Duty exemption been claimed?
- Close sectionInstruments of Variation: Meaning of estate for s.142
- Close sectionInstruments of Variation: How many variations can be attempted?
- IHTM35081: Instruments of Variation: How many variations can be attempted?: Introduction
- IHTM35082: Instruments of Variation: How many variations can be attempted?: Second variation affecting the same property
- IHTM35083: Instruments of Variation: How many variations can be attempted?: Variations affecting different items of property
- IHTM35084: Instruments of Variation: How many variations can be attempted?: Special power of appointment, power of enlargement or advancement
- IHTM35085: Instruments of Variation: How many variations can be attempted?: Link between s.142 and s.144
- IHTM35086: Instruments of Variation: How many variations can be attempted?: Rectification of errors
- Close sectionInstruments of Variation: Property redirected to the spouse or civil partner
- IHTM35091: Instruments of Variation: Property redirected to the spouse or civil partner: Introduction
- IHTM35092: Instruments of Variation: Property redirected to the spouse or civil partner: Variations and joint property
- IHTM35093: Instruments of Variation: Property redirected to the spouse or civil partner: Gifts back to original beneficiaries
- IHTM35094: Instruments of Variation: Property redirected to the spouse or civil partner: Redirection of excluded property
- IHTM35095: Instruments of Variation: Property redirected to the spouse or civil partner: Limited interest slightly longer than two years
- IHTM35100: Instruments of Variation: Consideration brought in from outside the estate
- IHTM35110: Instruments of Variation: Does the variation affect another estate?
- Close sectionInstruments of Variation: Property redirected to a charity
- IHTM35121: Instruments of Variation: Property redirected to a charity: Redirection to a charity by an individual
- IHTM35122: Instruments of Variation: Property redirected to a charity: Gift Aid relief
- IHTM35123: Instruments of Variation: Property redirected to a charity: Redirection to a charity by a non-qualifying body
- IHTM35124: Instruments of Variation: Property redirected to a charity: Requirement to notify IoV to charity
- Close sectionInstruments of Variation: Trust created by a variation
- IHTM35131: Instruments of Variation: Trust created by a variation: Introduction
- IHTM35132: Instruments of Variation: Trust created by a variation: Procedure when a trust is created
- IHTM35133: Instruments of Variation: Trust created by a variation: Short-term interests disregarded
- IHTM35134: Instruments of Variation: Trust created by a variation: Distribution before the end of the short term interest
- IHTM35140: Instruments of Variation: Procedure on completing form IOV1
- Close sectionInstruments of Variation: IHT implications of an Instrument of Variation
- IHTM35151: Instruments of Variation: IHT implications of an Instrument of Variation: Effect of coming within s.142
- IHTM35152: Instruments of Variation: IHT implications of an Instrument of Variation: Increased exemption
- IHTM35153: Instruments of Variation: IHT implications of an Instrument of Variation: Increased tax as result of instrument executed before 1 August 2002
- IHTM35154: Instruments of Variation: IHT implications of an Instrument of Variation: Effect of not coming within s.142
- IHTM35155: Instruments of Variation: IHT implications of an Instrument of Variation: Excepted estates
- IHTM35156: Instruments of Variation: IHT implications of an Instrument of Variation: Increased tax as result of instrument executed on or after 1 August 2002
- Close sectionDisclaimers
- Close sectionCompliance with a testator's request
- Close sectionDistribution from a relevant property trust set up by Will
- IHTM35181: Distribution from a relevant property trust settled by Will: Introduction
- IHTM35182: Distribution from a relevant property trust settled by Will: When s.144 applies
- IHTM35183: Distribution from a relevant property trust settled by Will: What you should do if you receive a deed of appointment
- IHTM35184: Distribution from a relevant property trust settled by Will: IHT implications
- Close sectionSurviving spouse or civil partner elects to take a lump sum under intestacy (England and Wales)
- Close sectionOrders under the Inheritance (Provision for Family and Dependants Act) 1975
- IHTM35201: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Introduction
- IHTM35202: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Orders under s.2 I(PFD)A 1975
- IHTM35203: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Orders under ss. 8 & 9 I(PFD)A 1975
- IHTM35204: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Orders under s.10 I(PFD)A 1975
- IHTM35205: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Example of an order under s.10
- IHTM35206: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Orders staying or dismissing proceedings
- IHTM35207: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Claims settled without a Court Order
- IHTM35208: Orders under the Inheritance (Provision for Family and Dependants Act) 1975: Settled property
- Close sectionProvisions relating to Legitim (Scotland)
- IHTM35211: Provisions relating to Legitim (Scotland): Introduction
- IHTM35212: Provisions relating to Legitim (Scotland): Basic rule in s.147
- IHTM35213: Provisions relating to Legitim (Scotland): Alternative to the basic rule
- IHTM35214: Provisions relating to Legitim (Scotland): What is an appropriate case?
- IHTM35215: Provisions relating to Legitim (Scotland): Notice of election
- IHTM35216: Provisions relating to Legitim (Scotland): Action on receipt of an election
- IHTM35217: Provisions relating to Legitim (Scotland): Writing to those entitled to claim legitim
- IHTM35218: Provisions relating to Legitim (Scotland): Future claims to tax
- IHTM35219: Provisions relating to Legitim (Scotland): IHT consequences of an election under s.147(4)
- IHTM35220: Provisions relating to Legitim (Scotland): Example of the consequences of an election under s.147(4)
- Close sectionThe Inheritance (Provision for Family and Dependants Act) 1975
- IHTM35231: The Inheritance (Provision for Family and Dependants Act) 1975: Introduction
- IHTM35232: The Inheritance (Provision for Family and Dependants Act) 1975: Persons who may apply
- IHTM35233: The Inheritance (Provision for Family and Dependants Act) 1975: Orders the Court can make
- IHTM35234: The Inheritance (Provision for Family and Dependants Act) 1975: Net estate for I(PFD)A 1975 purposes
- Close sectionIHTM36000: Penalties: contents
- Close sectionIntroduction
- Close sectionLate accounts
- Close sectionProcedures for taking penalties on late accounts
- Close sectionPenalty request letter
- IHTM36041: Penalty request letter: General
- IHTM36042: Penalty request letter: Standard letter
- IHTM36050: Penalty request letter: No response to request for penalty
- IHTM36051: Penalty request letter: Taxpayer claims reasonable excuse
- IHTM36052: Penalty request letter: Formal penalty proceedings
- IHTM36053: Penalty request letter: Settling the penalty enquiry
- Close sectionReasonable excuse
- IHTM36061: Reasonable excuse: General
- IHTM36062: Reasonable excuse: Account lost or delayed in the post
- IHTM36063: Reasonable excuse: Loss of financial records or other papers
- IHTM36064: Reasonable excuse: Serious illness, absence or family problems
- IHTM36065: Reasonable excuse: Bereavement
- IHTM36066: Reasonable excuse: Not aware an account had to be delivered
- IHTM36067: Reasonable excuse: Account, or the affairs of a deceased person, are too difficult
- IHTM36068: Reasonable excuse: Pressure of work
- IHTM36069: Reasonable excuse: Reasonable excuse: failure by an agent
- IHTM36070: Reasonable excuse: Lack of information
- IHTM36071: Reasonable excuse: Domicile outside the United Kingdom
- Close sectionFailure to deliver an account
- Close sectionFailure to deliver an instrument of variation where additional tax payable
- Close sectionIncorrect account, information or document
- IHTM36101: Incorrect account, information or document: When is an account, information or document incorrect?
- IHTM36102: Incorrect account, information or document: Types of penalty
- IHTM36103: Incorrect account, information or document: S.247(1) penalty
- IHTM36104: Incorrect account, information or document: S.247(3) penalty
- IHTM36105: Incorrect account, information or document: S.247(4) penalty
- IHTM36106: Incorrect account, information or document: S.248(1) penalty
- IHTM36107: Incorrect account, information or document: S.248(2) penalty
- IHTM36108: Incorrect account, information or document: Time limit for seeking penalties
- Close sectionInvestigating incorrect accounts, information or documents
- IHTM36122: Investigating incorrect accounts, information or documents: When to consider penalties
- IHTM36123: Investigating incorrect accounts, information or documents: Criteria for considering penalties
- IHTM36140: Investigating incorrect accounts, information or documents: Who is responsible for taking up penalty enquiries
- IHTM36142: Investigating incorrect accounts, information or documents: Initial action in Compliance Group
- IHTM36143: Investigating incorrect accounts, information or documents: Consulting valuers
- IHTM36144: Investigating incorrect accounts, information or documents: Risk assessing the potential penalty
- Close sectionRaising enquiries into incorrect accounts, information and documents
- IHTM36151: Raising enquiries into incorrect accounts, information and documents: General approach
- IHTM36152: Raising enquiries into incorrect accounts, information and documents: Initial questions
- IHTM36153: Raising enquiries into incorrect accounts, information and documents: Undervaluations (general)
- IHTM36154: Raising enquiries into incorrect accounts, information and documents: Undervaluations of land or buildings
- Close sectionIssuing leaflet IHT 13
- Close sectionDealing with taxpayer's replies
- IHTM36161: Dealing with taxpayer's replies: General
- IHTM36162: Dealing with taxpayer's replies: Do not make assumptions
- IHTM36163: Dealing with taxpayer's replies: Inconsistency in taking up cases
- IHTM36164: Dealing with taxpayer's replies: Claims that excess monetary deposits prevent a penalty being sought
- IHTM36165: Dealing with taxpayer's replies: Noting up penalty time limits
- IHTM36166: Dealing with taxpayer's replies: Death of person incurring a penalty
- IHTM36167: Dealing with taxpayer's replies: Deciding the amount of penalty due
- Close sectionCalculating the penalty
- IHTM36171: Calculating the penalty: Board's policy
- IHTM36172: Calculating the penalty: Effect of criminal proceedings
- IHTM36173: Calculating the penalty: How to calculate a penalty (chart)
- IHTM36174: Calculating the penalty: General approach
- IHTM36175: Calculating the penalty: De minimis limits for seeking a penalty
- IHTM36176: Calculating the penalty: Culpable tax
- IHTM36177: Calculating the penalty: Factors to take into account when abating a penalty
- IHTM36178: Calculating the penalty: Penalties due on more than one asset
- Close sectionDisclosure
- Close sectionCo-operation
- Close sectionGravity
- IHTM36201: Gravity: What to take into account?
- IHTM36202: Gravity: Size of underpayment
- IHTM36203: Gravity: Calculating the abatement
- IHTM36204: Gravity: Minor offences
- IHTM36205: Gravity: Middle range offences
- IHTM36206: Gravity: More serious offences
- IHTM36207: Gravity: Most serious offences
- IHTM36208: Gravity: S.248 penalties
- IHTM36210: Gravity: Normal penalty loadings impracticable
- IHTM36211: Gravity: Penalty calculation form
- Close sectionNegotiating a penalty
- IHTM36222: Negotiating a penalty: When to seek to agree a penalty
- IHTM36223: Negotiating a penalty: Prior approval for expected offer
- IHTM36224: Negotiating a penalty: Informing the taxpayer
- IHTM36225: Negotiating a penalty: Establishing culpability
- IHTM36226: Negotiating a penalty: Establishing fraud
- Close sectionTaxpayer does not make the expected offer
- IHTM36231: Taxpayer does not make the expected offer: General
- IHTM36232: Taxpayer does not make the expected offer: Normal negotiating limits
- IHTM36233: Taxpayer does not make the expected offer: Culpability disputed
- IHTM36234: Taxpayer does not make the expected offer: Culpability disputed but taxpayers prepared to make an acceptable offer
- IHTM36235: Taxpayer does not make the expected offer: Payment of less than the expected offer made
- IHTM36236: Taxpayer does not make the expected offer: Refusal to co-operate
- IHTM36237: Taxpayer does not make the expected offer: Insufficient means
- IHTM36240: Taxpayer does not make the expected offer: Request for time to pay
- Close sectionInstalment offers
- IHTM36251: Instalment offers: General
- IHTM36252: Instalment offers: Considering formal instalment arrangements
- IHTM36253: Instalment offers: Re-calculating the penalty
- IHTM36254: Instalment offers: Payments exceeding 2 years
- IHTM36255: Instalment offers: Method of payment
- IHTM36256: Instalment offers: Early settlement
- Close sectionSettling the penalty
- IHTM36262: Settling the penalty: Acceptable offer made
- IHTM36263: Settling the penalty: Checking the completed offer
- IHTM36264: Settling the penalty: Correcting errors in the offer
- IHTM36265: Settling the penalty: Taxpayer forwards own letter of offer
- IHTM36266: Settling the penalty: Delay in accepting the offer
- IHTM36267: Settling the penalty: Letter of acceptance
- IHTM36268: Settling the penalty: Administrative procedures
- Close sectionImproving future compliance
- IHTM36271: Improving future compliance: General approach
- IHTM36272: Improving future compliance: Joint property
- IHTM36273: Improving future compliance: Completing enquiries before delivering an account
- IHTM36274: Improving future compliance: Personal representatives employing agents
- IHTM36275: Improving future compliance: Valuations of land
- IHTM36276: Improving future compliance: Provisional estimates of value
- IHTM36277: Improving future compliance: Funding problems of tax due on delivery of the IHT400
- IHTM36280: Improving future compliance: Repayment of penalty
- IHTM36281: Improving future compliance: Repayment of tax
- Close sectionFraud
- Close sectionNegligence
- Close sectionInnocent Error
- IHTM36311: Innocent error: Dealing with claims of innocent error
- IHTM36312: Innocent error: Not aware of omitted asset or gift
- IHTM36313: Innocent error: Did not know that asset or gift had to be declared
- IHTM36314: Innocent error: Misinformed by a third party
- IHTM36315: Innocent error: Agent's failure
- IHTM36316: Innocent error: Advice given by IHT
- IHTM36317: Innocent error: Information supplied to another part of HMRC
- IHTM36320: Innocent error: Miscalculation
- Close sectionLetters of offer
- IHTM36331: Letters of offer: Importance of correctness
- IHTM36332: Letters of offer: Drafting the letter (general)
- IHTM36333: Letters of offer: Checklist
- IHTM36334: Letters of offer: Using precise terms
- IHTM36335: Letters of offer: Consideration
- IHTM36336: Letters of offer: Duties included
- IHTM36337: Letters of offer: Taxpayer's default
- IHTM36338: Letters of offer: Interest and penalties
- IHTM36339: Letters of offer: Amount of the offer
- IHTM36340: Letters of offer: Date of payment
- IHTM36341: Letters of offer: Excluded duties
- IHTM36342: Letters of offer: Signature
- IHTM36343: Letters of offer: Tax year
- IHTM36344: Letters of offer: Interest clause
- IHTM36345: Letters of offer: Instalment offers (general)
- IHTM36346: Letters of offer: Instalment offers (examples)
- Close sectionStandard letters of offer
- IHTM36351: Standard letters of offer: Specimen form of offer involving penalties only
- IHTM36352: Standard letters of offer: Specimen form of offer involving tax, interest and penalties
- IHTM36353: Standard letters of offer: Specimen form of offer involving penalties only, payable by instalments - England, Wales and Northern Ireland cases
- IHTM36354: Standard letters of offer: Specimen form of offer involving tax, interest and penalties, payable by instalments - England, Wales and Northern Ireland cases
- IHTM36355: Standard letters of offer: Specimen form of offer involving penalties only, payable by instalments - Scottish cases
- IHTM36356: Standard letters of offer: Specimen form of offer involving tax, interest and penalties, payable by instalments - Scottish cases
- Close sectionReports to Tax Administration, Litigation and Advice (TALA)
- Close sectionRecording penalties
- IHTM36371: Recording General
- IHTM36372: Recording Database for non-COMPASS penalties
- IHTM36373: Recording Creating a penalty record on COMPASS
- IHTM36374: Recording Opening a penalty record on COMPASS
- IHTM36375: Recording Enquiry not required
- IHTM36376: Recording Closing a penalty record on COMPASS
- IHTM36377: Recording Entering data on the penalties database
- Close sectionAccounting procedures
- Close sectionHuman Rights and penalties
- Close sectionPublic Funding for penalty hearings
- IHTM36411: Public Funding for penalty hearings: When is Public Funding available?
- IHTM36412: Public Funding for penalty hearings: When you must issue the Public Funding Leaflet
- IHTM36413: Public Funding for penalty hearings: Public Funding and s.245 penalties
- IHTM36414: Public Funding for penalty hearings: Requests for Public Funding leaflets
- Close sectionIHTM37000: Notices of determination: contents
- Close sectionIntroduction
- Close sectionConsidering a Notice of Determination
- Close sectionLand valuation cases
- IHTM37051: Land valuation cases: Introduction
- IHTM37052: Land valuation cases: When to consider a Notice of Determination
- IHTM37054: Land valuation cases: practicalities for the Notice of Determination
- IHTM37055: Land valuation cases: Action where there is no appeal
- IHTM37056: Land valuation cases: Action where an appeal is received
- Close sectionNon-Land valuation cases
- Close sectionExample Notices of Determination
- IHTM37091: Example Notices of Determination: land (no agricultural land)
- IHTM37092: Example Notices of Determination: land (with agricultural land)
- IHTM37093: Example Notices of Determination: Unlisted shares
- IHTM37094: Example Notices of Determination: Point of Principle 1
- IHTM37095: Example Notices of Determination: Point of Principle 2
- Close sectionAppeals against Notices of Determination
- Close sectionReviews of matter determined
- Close sectionIHTM40000: Clearance certificates: contents
- Close sectionSummary
- Close sectionWhat are clearance certificates?
- Close sectionWho can apply for clearance certificates?
- Close sectionWho is covered by a clearance certificate?
- Close sectionWhen can an application for clearance be made?
- Close sectionWhat is not covered by a clearance certificate?
- Close sectionProcedures for dealing with an application for clearance: Who is responsible for dealing with an application for clearance?
- IHTM40040: Procedures for dealing with an application for clearance: Who is responsible for dealing with an application for clearance?: Is a certificate appropriate?
- IHTM40041: Procedures for dealing with an application for clearance: Who is responsible for dealing with an application for clearance?: Is the application for clearance in the approved format?
- Close sectionProcedures for dealing with an application for clearance: Is the application for clearance premature?
- IHTM40051: Procedures for dealing with an application for clearance: Is the application for clearance premature?: General
- IHTM40052: Procedures for dealing with an application for clearance: Is the application for clearance premature?: Form IHT 30 received before full details of the estate are known
- Close sectionProcedures for dealing with an application for clearance: Checking form IHT 30
- Close sectionProcedures for dealing with an application for clearance: Section B
- IHTM40071: Procedures for dealing with an application for clearance: Section B: Checking applicants signatures on form IHT 30
- IHTM40072: Procedures for dealing with an application for clearance: Section B: Signatures of corporate or public trustees on form IHT 30
- IHTM40073: Procedures for dealing with an application for clearance: Section B: Signatures of attorneys on form IHT 30
- Close sectionCompleting the clearance certificate: Conditions to be satisfied before certifying the IHT 30
- Close sectionCompleting the clearance certificate: Qualifying the certificate
- IHTM40131: Completing the clearance certificate: Qualifying the certificate: Instalments
- IHTM40132: Completing the clearance certificate: Qualifying the certificate: Timber
- IHTM40133: Completing the clearance certificate: Qualifying the certificate: Conditionally exempt property
- IHTM40134: Completing the clearance certificate: Qualifying the certificate: Blocked foreign assets
- Close sectionChanges after the issue of the clearance certificate
- IHTM40141: Changes after the issue of the clearance certificate: Changes to the value of assets
- IHTM40142: Changes after the issue of the clearance certificate: Additional assets
- IHTM40143: Changes after the issue of the clearance certificate: Fraud or failure to disclose material facts
- IHTM40144: Changes after the issue of the clearance certificate: Sales of land or buildings
- IHTM40145: Changes after the issue of the clearance certificate: Sales of unquoted shares
- IHTM40146: Changes after the issue of the clearance certificate: Form IHT30 issued prematurely
- IHTM40147: Changes after the issue of the clearance certificate: Statutory amendments to the estate
- Close sectionNon-statutory assurances and other types of certificate
- IHTM40151: Non-statutory assurances and other types of certificate: Non-statutory assurances on taxpaying settlement cases
- IHTM40153: Non-statutory assurances and other types of certificate: Cancelling a charge on property
- IHTM40154: Non-statutory assurances and other types of certificate: Certificate of tax paid
- Close sectionIHTM42000: Relevant property trusts: contents
- Close sectionIntroduction
- Close sectionChargeable events
- Close sectionTen year anniversary (principal charge)
- IHTM42081: Ten year anniversary (principal charge): Introduction
- IHTM42085: Ten year anniversary (principal charge): Tax calculation:the rate of tax: step 1: the notional lifetime transfer
- IHTM42086: Ten year anniversary: Tax calculation: the rate of tax: step 2: the nil rate band available
- IHTM42087: Ten year anniversary: Tax calculation: the rate of tax: step 3: calculating the initial rate of tax
- IHTM42088: Ten year anniversary (principal charge): Assets that have been relevant property for less than the full 10 years
- IHTM42089: Ten year anniversary (principal charge): Relief for double charges
- IHTM42090: Ten year anniversary (principal charge): Adjusting settlor's PLCT where there are additions before the first TYA
- IHTM42091: Ten year anniversary (principal charge): No date before 1 April 1983 is a TYA
- Close sectionProportionate charges
- IHTM42110: Proportionate charges: Introduction
- IHTM42111: Proportionate charges: Chargeable transfer
- IHTM42114: Proportionate charges: Calculation of rate before first TYA
- IHTM42115: Proportionate charges: Rate between ten year anniversaries
- IHTM42117: Proportionate charges: Excluded periods
- IHTM42118: Proportionate charges: Grossing
- IHTM42119: Proportionate charges: Loss to the settlement basis of valuation
- Trusts made before 27 March 1974
- Assessing and enquiries
- Close sectionRelevant property
- IHTM42161: Relevant property: Introduction
- IHTM42162: Relevant property: Capital and income
- IHTM42163: Relevant property: Capital Gains Tax and Income Tax deductions
- IHTM42164: Relevant property: Inheritance tax deductions
- IHTM42165: Relevant property: AR and BR
- IHTM42166: Relevant property: Treatment of income after 6 April 2014
- Close sectionThe settlement
- IHTM42221: The settlement: Commencement date of the settlement
- IHTM42223: The settlement: Powers of appointment
- IHTM42224: The settlement: Powers of accumulation
- IHTM42225: The settlement: Non-income producing assets
- IHTM42226: The settlement: Class of beneficiary
- IHTM42227: The settlement: Variations of discretionary trusts in wills (IHTA 1984, s 144)
- IHTM42228: The settlement: Relevant property settlements set up by IOV (IHTA 1984, s 142)
- IHTM42229: The settlement: Property moving from one settlement to another
- IHTM42230: The settlement: Related settlements
- IHTM42231: The settlement: Initial qualifying interest in possession of settlor or spouse
- IHTM42232: The settlement: One or more trust?
- IHTM42233: The settlement: Same day additions
- IHTM42234: The settlement: Same day additions: Exceptions
- IHTM42235: Same Day Additions: Examples
- Close sectionTrustees
- Close sectionThe settlor
- Close sectionForeign element
- Close sectionOther taxes and investigation
- Close sectionSpecial trusts
- IHTM42801: Special trusts: Summary
- IHTM42802: Special trusts: Flat rate charge
- IHTM42803: Special trusts: Temporary charitable trusts
- IHTM42804: Special trusts: Protective trusts
- IHTM42805: Special trusts: Trusts for disabled persons
- IHTM42806: Special trusts: Employee trusts and newspaper trusts
- IHTM42807: Special trusts: Accumulation and maintenance trusts (A&M)
- IHTM42808: Special trusts: treatment of existing Accumulation & Maintenance (A&M) trusts after 6 April 2008
- IHTM42809: Special trusts: 25 year test for Accumulation & Maintenance (A&M) trusts
- IHTM42811: Special trusts: Charitable, political and Heritage trusts
- IHTM42812: Special trusts: Pension funds
- IHTM42813: Special trusts: compensation and special purpose funds
- IHTM42814: Special trusts: Excluded property
- IHTM42815: Special trusts: Trusts for bereaved minors
- IHTM42816: Special trusts: Age 18 to 25 trusts
- Close sectionEmployee benefit trusts
- Close sectionIHTM42900: Employee benefit trusts
- IHTM42901: Introduction
- IHTM42911: Conditions for relief: Specified classes
- IHTM42912: Conditions for relief: Powers to alter
- IHTM42913: Conditions for relief: Sub clauses
- IHTM42914: Conditions for relief: Charities
- IHTM42915: Conditions for relief: ‘All or most‘ test
- IHTM42921: Conditions for relief: Investigation
- IHTM42922: Powers of the trust: Power capable of benefiting non-qualifying beneficiaries
- IHTM42923: Powers of the trust: Former employees
- IHTM42924: Powers of the trust: Probationers and other limitations on eligibility
- IHTM42925: Powers of the trust: Partnerships
- IHTM42926: Powers of the trust: Trustees Remuneration
- IHTM42927: Powers of the trust: Splitting funds or ‘hiving off’
- IHTM42928: Powers of the trust: Employees outside the UK
- IHTM42929: Powers of the trust: Company groups and subsidiaries
- IHTM42930: Powers of the trust: Share Price Schemes (other than approved under TA88/SCH9)
- IHTM42931: Powers of the trust: Part-time staff and casual labour
- IHTM42932: Powers of the trust: Best interests of the company
- IHTM42933: Powers of the trust: Insolvency
- IHTM42934: Powers of the trust: Consultants
- IHTM42935: Powers of the trust: Payment of tax liabilities out of trust funds
- IHTM42936: Powers of the trust: Power to transfer funds to another settlement
- IHTM42937: Powers of the trust: Direction to waive dividends
- IHTM42940: Specific schemes: Approved profit sharing schemes
- IHTM42941: Specific schemes: Approved all employee share plans
- IHTM42945: Inheritance tax operation: The reliefs given when S86 is satisfied
- IHTM42946: Inheritance tax operation: Disregard of small interest in possession
- IHTM42947: Inheritance tax operation: Transfer from one Employee Benefit Trust to another
- IHTM42948: Inheritance tax operation: Settled shares or securities becoming subject to Employee Benefit Trusts
- IHTM42950: Dispositions by an individual
- IHTM42951: Dispositions by an individual: Liaison with CGT
- IHTM42953: Dispositions by a company: General
- IHTM42955: Disposition by close companies: Definition of close company
- IHTM42956: Disposition by close companies: Charge on participators - general
- IHTM42957: Disposition by close companies: Dispositions not intended to confer gratuitous benefit
- IHTM42958: Disposition by close companies: Dispositions allowable in computing profits for Corporation Tax
- IHTM42959: Disposition by close companies: Decision in MacDonald (HMIT) v Dextra [2005] UKHL 47
- IHTM42960: Disposition by close companies: Dispositions for benefit of employees
- IHTM42961: Disposition by close companies: Dispositions for benefit of employees - subsidiary
- IHTM42962: Disposition by close companies: Restriction of exemption
- IHTM42963: Disposition by close companies: Procedure where exemption is restricted
- IHTM42964: Disposition by close companies: Liaison with CGT
- IHTM42965: Disposition by close companies: Business property relief
- IHTM42968: Sponsored superannuation schemes: Approved profit sharing schemes
- IHTM42969: Sponsored superannuation schemes: Approved all employee share plans
- IHTM42970: Sub-trusts: Introduction
- IHTM42971: Sub-trusts: Deeds
- IHTM42972: Sub-trusts: Revocable or irrevocable sub-trust
- IHTM42973: Sub-trusts: Revocation of sub-trust
- IHTM42974: Sub-trusts: Commencement date
- IHTM42975: Sub-trusts: Ten-year charges and exit charges
- IHTM42976: Sub-trusts: Nil-rate band and calculation of tax
- IHTM42977: Sub-trusts: Company as settlor
- IHTM42978: Sub-trusts: Allocation other than by way of sub-trusts
- IHTM42981: Property leaving Employee Benefit Trusts: Charge to tax
- IHTM42982: Property leaving Employee Benefit Trusts: Where the charge is imposed
- IHTM42983: Property leaving Employee Benefit Trusts: Granting of share options
- IHTM42984: Property leaving Employee Benefit Trusts: Approved Profit Sharing Schemes
- IHTM42985: Property leaving Employee Benefit Trusts: Approved Share Ownership Plans
- IHTM42986: Property leaving Employee Benefit Trusts: Treated as income
- IHTM42987: Property leaving Employee Benefit Trusts: Payment of PAYE and NICs
- IHTM42988: Property leaving Employee Benefit Trusts: Interaction with the ‘disguised remuneration’ legislation
- IHTM42989: Property leaving Employee Benefit Trusts: Definitions
- IHTM42990: Associated issues: Newspaper Trusts
- IHTM42991: Associated issues: Health Care Trusts
- IHTM42995: Employee Ownership Trusts: Introduction
- IHTM42996: Employee Ownership Trusts: Qualifying conditions
- IHTM42997: Employee Ownership Trusts: Exemptions from Inheritance Tax
- Close sectionIHTM42900: Employee benefit trusts
- Close sectionIHTM43000: Transferable nil rate band: contents
- Close sectionBasic principles
- IHTM43001: Basic principles: introduction
- IHTM43002: Basic principles: focus is on the extent to which the nil rate band is unused
- IHTM43003: Basic principles: what constitutes a valid marriage?
- IHTM43004: Basic principles: what equivalent arrangements to civil partnerships are recognised in the UK?
- IHTM43005: Basic principles: divorce or dissolution of a civil partnership
- Close sectionClaims and time limits
- Close sectionDealing with a claim
- IHTM43010: Dealing with a claim: reviewing form IHT402 and form IHT216
- IHTM43011: Dealing with a claim: action in Risk: first death before 9 October 2007
- IHTM43012: Dealing with a claim: action in Risk: first death on or after 9 October 2007
- IHTM43014: Dealing with a claim: action in Compliance Group
- IHTM43016: Dealing with a claim: partially or unconstituted nil rate band trusts
- Close sectionCalculating the transferable nil rate band
- IHTM43020: Calculating the transferable nil rate band: how the amount to be transferred is calculated
- IHTM43021: Calculating the transferable nil rate band: how the amount to be transferred is calculated where there is a lifetime transfer
- IHTM43022: Calculating the transferable nil rate band: how the amount to be transferred is calculated where the first estate is less than the IHT nil rate band on the first death
- IHTM43023: Calculating the transferable nil rate band: how the amount to be transferred is calculated where the first estate is less than the IHT nil rate band on the first death and with a lifetime transfer
- IHTM43024: Calculating the transferable nil rate band: how there may still be an amount to be transferred even though IHT is paid as a result of the death
- IHTM43025: Calculating the transferable nil rate band: interaction of ability to transfer unused nil rate band with double taxation conventions, double taxation relief and successive charges relief
- IHTM43026: Calculating the transferable nil rate band: how to reflect the increased nil rate band on COMPASS
- IHTM43030: Calculating the transferable nil rate band: survivor has been married to more than one spouse or been in more than one civil partnership
- IHTM43031: Calculating the transferable nil rate band: survivor has been married to more than one spouse or been in more than one civil partnership - limitation at 100%
- IHTM43032: Calculating the transferable nil rate band: survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death
- IHTM43033: Calculating the transferable nil rate band: survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death - limitation at 100%
- IHTM43034: Calculating the transferable nil rate band: chargeable lifetime transfers by the second spouse or civil partner
- IHTM43035: Calculating the transferable nil rate band: survivor was married to or in a civil partnership with someone who was entitled to TNRB from an earlier death - where no claim was made on the earlier death
- IHTM43040: Calculating the transferable nil rate band: simultaneous deaths
- IHTM43041: Calculating the transferable nil rate band: legitim
- Close sectionDomicile
- Close sectionInteraction with conditional exemption and woodlands relief
- IHTM43044: Interaction with conditional exemption exemption and woodlands relief: conditionally exempt property or woodlands in the estate of the first spouse or civil partner to die
- IHTM43045: Interaction with conditional exemption exemption and woodlands relief: recapture charge arising before the death of the survivor
- IHTM43046: Interaction with conditional exemption and woodlands relief: recapture charge arising after the death of the survivor
- Close sectionInteraction with alternatively secured pensions
- Close sectionOther issues
- IHTM43060: Other issues: application when the first death occurred under Estate Duty and Capital Transfer Tax
- IHTM43062: Other issues: settling the amount of unused TNRB at the first death
- IHTM43063: Other issues: requests to revise values included on the first death
- IHTM43064: Other issues: excepted estates and transferable nil rate band
- IHTM43065: Other issues: the rate of tax on exit charges from relevant property trusts which include TNRB before the first ten year anniversary
- IHTM43066: Other issues: valuing the first estate - ascertained value for CGT
- IHTM43067: Other issues: effect of clearance certificates
- IHTM43068: Other issues: disclosure of TNRB calculations to other liable persons
- Close sectionBasic principles
- Close sectionIHTM44000: Pre-owned assets: contents
- Close sectionIntroduction
- Close sectionValuation
- Close sectionProperty in charge
- IHTM44003: Property in charge: Land
- IHTM44004: Property in charge: The disposal condition - land
- IHTM44005: Property in charge: The contribution condition - land
- IHTM44006: Property in charge: Chattels
- IHTM44007: Property in charge: The disposal condition - chattels
- IHTM44008: Property in charge: The contribution condition - chattels
- IHTM44009: Property in charge: Intangible property
- Close sectionCalculation of the charge on land
- IHTM44010: Calculation of the charge on land: Introduction
- IHTM44011: Calculation of the charge on land: Valuation date and the 5 year cycle
- IHTM44012: Calculation of the charge on land: Where the relevant land is disposed of
- IHTM44013: Calculation of the charge on land: Where the chargeable person disposed of other property
- IHTM44014: Calculation of the charge on land: Where the chargeable person contributed to the acquisition of the relevant property
- IHTM44015: Calculation of the charge on land: Non-exempt sales
- Close sectionCalculation of the charge on chattels
- IHTM44016: Calculation of the charge on chattels: Introduction
- IHTM44017: Calculation of the charge on chattels: Valuation date and the 5 year cycle
- IHTM44018: Calculation of the charge on chattels: Where the relevant land is disposed of
- IHTM44019: Calculation of the charge on chattels: Where the chargeable person disposed of other property
- IHTM44020: Calculation of the charge on chattels: Where the chargeable person contributed to the acquisition of the relevant property
- IHTM44021: Calculation of the charge on chattels: Non-exempt sales
- Close sectionCalculation of the charge on intangibles
- Close sectionExcluded transactions
- IHTM44030: Excluded transactions: Introduction
- IHTM44031: Excluded transactions: The disposal condition - sale of entire interest
- IHTM44032: Excluded transactions: The disposal condition - transfer to spouse or civil partner
- IHTM44033: Excluded transactions: The disposal condition - family maintenance
- IHTM44034: Excluded transactions: The disposal condition - annual and small gifts exemption
- IHTM44035: Excluded transactions: The contribution condition - transfer to spouse or civil partner
- IHTM44036: Excluded transactions: The contribution condition - outright gift of money
- IHTM44037: Excluded transactions: The contribution condition - family maintenance
- IHTM44038: Excluded transactions: The contribution condition - annual and small gifts exemption
- Close sectionExemptions
- IHTM44040: Exemptions: Introduction
- IHTM44041: Exemptions: Relevant property remains part of the Inheritance Tax estate
- IHTM44042: Exemptions: Examples where relevant property remains part of the Inheritance Tax estate
- IHTM44043: Exemptions: Property in a person's estate that derives its value from the relevant property
- IHTM44044: Exemptions: Reservation of benefit in the relevant property
- IHTM44045: Exemptions: Reservation of benefit in property that derives its value from the relevant property
- IHTM44046: Exemptions: Reservation of benefit in property but for certain exemptions
- IHTM44047: Exemptions: Reservation of benefit in share of interest in land
- IHTM44048: Exemptions: Exclusion of reservation of benefit under FA 1986, Sch 20 para 6
- IHTM44049: Exemptions: Cash gifts and exclusion of reservation of benefit provisions
- IHTM44050: Exemptions: Relevant property remains part of the Inheritance Tax estate - restriction for subsequent ownership
- IHTM44051: Exemptions: Relevant property remains part of the Inheritance Tax estate - excluded liabilities
- IHTM44052: Exemptions: Foreign element
- IHTM44053: Exemptions: Foreign element - non-residence
- IHTM44054: Exemptions: Foreign element - foreign domiciliaries
- IHTM44055: Exemptions: Foreign element - foreign domiciliaries - settled property exemption
- IHTM44056: Exemptions: De minimis exemption
- IHTM44057: Exemptions: Changes in the distribution of a deceased's estate
- IHTM44058: Exemptions: Guarantees
- IHTM44059: Exemptions: Sale of part share
- Close sectionAvoidance of double charges
- IHTM44060: Avoidance of double charges: Introduction
- IHTM44061: Avoidance of double charges: More than one charge under FA 2004, Sch 15
- IHTM44062: Avoidance of double charges: Charge to employment benefits
- IHTM44063: Avoidance of double charges: Election that reservation of benefit provisions should apply
- IHTM44064: Avoidance of double charges: Debt written off or released
- Close sectionElection into Inheritance Tax
- IHTM44070: Election into Inheritance Tax: Introduction
- IHTM44071: Election into Inheritance Tax: Land and chattels
- IHTM44072: Election into Inheritance Tax: Land and chattels - chargeable portion
- IHTM44073: Election into Inheritance Tax: Intangibles
- IHTM44074: Election into Inheritance Tax: How to make an election
- IHTM44075: Election into Inheritance Tax: When to make an election
- IHTM44076: Election into Inheritance Tax: Withdrawal of an election
- IHTM44077: Election into Inheritance Tax: When a late election may be accepted
- IHTM44078: Election into Inheritance Tax: Refusal to accept a late election
- Close sectionSpecific avoidance schemes
- IHTM44100: Specific avoidance schemes: Land - lease carve-out scheme
- IHTM44101: Specific avoidance schemes: Land - settlement on interest in possession trusts
- IHTM44102: Specific avoidance schemes: Land - reversionary leases
- IHTM44103: Specific avoidance schemes: Land - home loan or double trust scheme
- IHTM44104: Specific avoidance schemes: Land - double trust or home loan scheme - loan repayable on demand
- IHTM44105: Specific avoidance schemes: Land - double trust or home loan scheme - loan not repayable until after the individual's death
- IHTM44106: Specific avoidance schemes: Land - double trust or home loan scheme - alternative approach
- IHTM44107: Specific avoidance schemes: Land - debt and charge scheme
- IHTM44108: Specific avoidance schemes: Chattels - lease carve-out scheme
- IHTM44109: Specific avoidance schemes: Chattels - gift and leaseback scheme
- IHTM44110: Specific avoidance schemes: Intangibles - settlement on interest in possession trusts
- Close sectionInsurance based products
- IHTM44111: Insurance based products: Introduction
- IHTM44112: Insurance based products: Discounted gift trust
- IHTM44113: Insurance based products: Gift and loan trust
- IHTM44114: Insurance based products: Pension policies
- IHTM44115: Insurance based products: Business trusts and partnership policies
- IHTM44116: Insurance based products: Policies settled on trusts before 18 March 1986
- Close sectionUnwinding of home loan or double trust scheme
- IHTM44120: Unwinding of home loan or double trust scheme: Background
- IHTM44121: Unwinding of home loan or double trust scheme: Joint settlor schemes unwound after first death
- IHTM44122: Unwinding of home loan or double trust scheme: Joint settlor schemes - loan valued at less than open market value of the property on the death of the first settlor
- IHTM44123: Unwinding of home loan or double trust scheme: Downsizing
- IHTM44124: Unwinding of home loan or double trust scheme: Downsizing - loan valued at less than the open market value of the property on the death of the first settlor
- IHTM44125: Unwinding of home loan or double trust scheme: Tracing
- IHTM44126: Unwinding of home loan or double trust scheme: Payment of Inheritance Tax
- IHTM44127: Unwinding of home loan or double trust scheme: Residence nil rate band
- IHTM44128: Unwinding of home loan or double trust scheme: Pre-owned asset charge
- Close sectionIHTM45000: Reduced rate for charitable gifts: contents
- Close sectionIntroduction and conditions
- Close sectionComponents of the estate
- IHTM45003: Components of the estate: Summary
- IHTM45004: Components of the estate: Survivorship component
- IHTM45005: Components of the estate: Settled property component
- IHTM45006: Components of the estate: Reservation of benefit property
- IHTM45007: Components of the estate: General component
- IHTM45008: Components of the estate: Charitable legacy worded to meet the 10% test
- Close sectionCalculating the baseline amount
- IHTM45009: Calculating the baseline amount: Introduction
- IHTM45010: Calculating the baseline amount: Estate with a single estate component
- IHTM45011: Calculating the baseline amount: Estate with a single estate component and lifetime cumulative total
- IHTM45012: Calculating the baseline amount: Estate with two or more components
- IHTM45013: Calculating the baseline amount: Where the charitable legacy is worded to meet the 10% test
- Close sectionThe charitable giving condition or 10% test
- Close sectionAbatement
- Close sectionMerger of components
- IHTM45035: Merger of components: Aggregate estate contains two components
- IHTM45036: Merger of components: Aggregate estate contains three components
- IHTM45037: Merger of components: Where grossing up and interaction apply
- IHTM45038: Merger of components: Datacapture on COMPASS
- IHTM45039: Merger of components: Merger following an Instrument of Variation
- Close sectionElections
- Close sectionOther issues
- Close sectionIHTM46000: Residence nil rate band: contents
- Close sectionIntroduction
- Close sectionBasic definitions
- Close sectionCalculating the RNRB
- IHTM46020: Introduction
- IHTM46021: When is RNRB due?
- IHTM46022: Terms used: ‘residential enhancement’
- IHTM46023: Terms used: the ‘taper threshold’
- IHTM46024: Terms used: the ‘default allowance’
- IHTM46025: Terms used: the ‘adjusted allowance’
- IHTM46026: Calculating the ‘default allowance‘ and the ‘adjusted allowance’
- IHTM46027: Calculating the value of the QRI that is closely inherited
- Close sectionMore detailed guidance
- Close sectionTransfer of unused RNRB
- Close sectionDownsizing
- IHTM46050: General principles
- IHTM46051: The property disposed of
- IHTM46052: The closely inherited property
- IHTM46053: Qualifying former residential interest (QFRI)
- IHTM46054: Disposals: qualifying former residential interest: disposal under contract
- IHTM46055: Disposals: qualifying former residential interest: interest in possession trust
- IHTM46056: Disposals: qualifying former residential interest: property subject to a reservation of benefit
- Close sectionDownsizing calculations
- IHTM46060: Overview
- IHTM46061: Where there is a qualifying residential interest in the estate: conditions
- IHTM46062: Where there is a qualifying residential interest in the estate: how to calculate the lost relievable amount
- IHTM46063: Where there is a qualifying residential interest in the estate: calculating the downsizing addition
- IHTM46064: Where there is no residential property interest in the estate: conditions
- IHTM46065: Where there is no residential property interest in the estate: how to calculate the lost relievable amount
- IHTM46066: Where there is no residential property interest in the estate: calculating the downsizing addition
- IHTM46067: Interaction with the taper threshold
- Close sectionApplying RNRB to the estate
- Close sectionEstates with conditionally exempt property
- Close sectionGlossary