IHTM31181 - Raising assessments: initiation

In order to be able to raise an assessment you must

• select the appropriate case record from the COMPASS Case Index

and

• open the Estate Details window from the Amend menu.

From the Assessment menu you can now select “Raise”. This will open the “Calculation of Inheritance Tax” window ( IHTM31182) for the death estate. From here, COMPASS will generate assessments for all the assessment groups at the death estate Entries.

Example

If you have

• Entry A: Free Estate NIOP (31012), IOP and IOP (WIP)
• Entry B: Will Trust NIOP and IOP
• Entry C: GWR at death NIOP

COMPASS will raise six assessments in that order.

Lifetime Entries

If however you have lifetime transfers which are chargeable in their own right, COMPASS will not include them after the death estate. You must

• go back to the Case Details window and select the appropriate Entry for each lifetime transfer,
• then Raise through the Assessment menu.

You must raise the assessments for each lifetime Entry separately, unless they are on the same day, in which case

• COMPASS will aggregate them,
• apportion the tax between them, and
• raise an assessment for each assessment group