IHTM20044 - Investigating form IHT403: Payment of premiums on a life policy for the benefit of someone else

This instruction applies both where the deceased

• effects a policy for the benefit of someone else, and/or
• pays premiums on a policy already in someone else’s beneficial ownership.

The taxpayer should have answered Yes to Box box 4 of form IHT403 and given the requested details in the schedule below. They should also have provided a copy of

• the schedules and provisions to the life insurance policy, and
• any related documents such as trust deeds and loan agreements.

If the deceased purchased an annuity as well as paying the premiums on the policy, a copy of the annuity documents should also be provided.

When all this information is available, refer to the chart in IHTM20045.

See also IHTM20028 and IHTM2025.