³ÉÈËÓ°Òô

IHT returns


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

IHT returns


Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
imgtext

This note considers the duty to deliver an account for IHT and explains which form to use in various circumstances. It covers:

  1. •

    accountability ― the duty to deliver an account (form IHT400) to HMRC

  2. •

    reduced form IHT400

  3. •

    excepted estates where form IHT205 is delivered (for deaths before 1 January 2022)

  4. •

    duty to make enquiries and give correct information to HMRC

  5. •

    duty to deliver corrective accounts when something changes

For information on the principles of valuation, see the Valuation of property guidance note and for valuation compliance, see the Valuing the estate guidance note.

For advice on how to pay inheritance tax, see the Payment of IHT on death guidance note.

Accountability ― the duty to deliver an account (form IHT400) to HMRC

Normally, personal representatives cannot obtain a grant until they have delivered an inheritance tax account giving full details of ‘appropriate property’ and its value to the best of their knowledge and belief, and until they have paid the inheritance tax, if any, for which they are

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL
Powered by
  • 15 Nov 2024 07:37

Home/ Tolley Tax Guidance/ Trusts and Inheritance Tax / Compliance for trusts and estates

Popular Articles

Owner-Managed Businesses

Relief for employee share schemes

Relief for employee share schemesRemuneration expenses are generally deductible for corporation tax purposes as they are considered to be incurred wholly and exclusively for the purposes of the trade. However, expenses relating to shares are usually classed as capital and are therefore not

14 Jul 2020 13:21 | Produced by Tolley Read more Read more
Personal Tax

Payment of the remittance basis charge

Payment of the remittance basis chargeRemittance basis chargeThe remittance basis charge is an annual charge payable by ‘long-term’ UK residents for the privilege of claiming the remittance basis.Taxpayers who wish to utilise the remittance basis (but do not qualify for it automatically) must pay

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Personal Tax

Foreign self-employment

Foreign self-employmentTrading in another jurisdiction involves many issues, only some of which involve taxation. Advice should be taken, not only in relation to tax but on the wider business implications. For an overview of the points to consider for certain jurisdictions see Tolley's Global

14 Jul 2020 11:44 | Produced by Tolley Read more Read more