Recent updates to the Inheritance Tax Manual

Below are details of the amendments that were published on 4 June 2008 (see the update index for all updates)

Section	Details of update
IHTM05055	Amendments have been made to this page and others in this section to take account of the need to get a reference for all tax-paying IHT accounts before submitting the account to us.
IHTM29000 onwards	This section of the manual has been substantially rewritten to provide more thorough guidance on the recording of yield and interest yield for all staff working in IHT
IHTM29150 onwards	New pages have been added to give guidance on general IHT Governance practices, and the Independent Validation and High-Yield review procedures.
IHTM34140	The Bermuda Stock Exchange has been added to the list of foreign stock exchanges on which investments will qualify for the purposes of loss on sale of shares relief, with effect from 4 December 2007
IHTM36023	This guidance has been amended to include detailed instructions for calculating penalties under section 245(4A)
IHTM36166	This guidance has been amended to show that we cannot now collect penalties from the personal representatives of an individual who was liable to a penalty but died before the issue was resolved, and any such penalties already collected need to be repaid.
IHTM40001	This guidance has been amended to show our current practice of notifying customers that we have no further enquiries