This window explains how the assessments will be broken down
between Entries (
IHTM31011) and assessment groups (
IHTM31012) and the net chargeable
values for each.
It is at this stage that COMPASS may inform you that one or
more assessment groups is in deficit (
IHTM31150)
There are two boxes in which you can include information
about the total of previous lifetime cumulative transfers (PLCT)
and QSR (
IHTM22041).
PLCT
COMPASS does not automatically calculate a PLCT total for
you, even if the case record has Entries for lifetime transfers and
failed PETs.
You must therefore calculate the PLCT yourself and type it into
the box at this screen.
If you have typed in a figure when raising a previous set of
assessments, COMPASS will bring forward the figure you typed then.
If the PLCT has been revised since the last assessments you must
delete this figure and type in the new total. Otherwise COMPASS
will use the figure already there.
COMPASS will deduct tax at the death rates on the PLCT when
performing the calculation which is displayed on the right hand
side of the window.
QSR
In this box insert the amount of any QSR.
As with the PLCT, if a figure has previously been entered in
an earlier set of assessments, COMPASS will bring forward that
figure. If the amount of relief has changed, delete the figure here
and type in the new amount.
Where you have revised the calculation of QSR, remember
advise the taxpayer how the revised figure is arrived at, if you
have not already done so.
Proceeding
Once you have made all the adjustments you need, click the
Raise button to continue the Raise process.
If you decide that the figures are not correct or for any
other reason you do not want to progress to raising assessments,
click on the Cancel button.
