Inheritance tax (IHT), a tax on capital gifts, is typically reported and paid after an individual's death. However, there can be circumstance where an individual or trustee will be required to report a lifetime charge — see UK1.3.4.
Lifetime IHT compliance
If an individual makes an immediately chargeable lifetime transfer (such as setting up a trust) details of the transfer must be disclosed on an IHT100 return to HMRC (IHTA 1984, s 216). If an individual
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