The declaration on page 13 of the IHT400 (
IHTM10021) allows the taxpayer to state
that certain items, including for instance the value of the
household goods, are provisional estimates. If it is clear from
this declaration, or from the IHT407, that estimated figures have
been returned, ask the taxpayer to provide exact values as soon as
they are known.
The declaration also makes it clear that the taxpayer may be
liable to a penalty if the Account is incorrect by reason of fraud
or negligence, or if incorrect information is not corrected within
a reasonable time. For more guidance on this aspect, please refer
to the section on Penalties (
IHTM36000).
