IHTM03091 - Lifetime files: introduction


There are a number of different file covers that are used to hold papers relating to lifetime transfers that are taxable when made (IHTM04051). They are:

  • Forms 400 and 401 (IHTM03101), which are the file covers used for all lifetime transfers.
  • Form 405 (IHTM03141), which is the sub-file used to hold the papers relating to individual transfers

Accounts and correspondence for lifetime transfers (failed PETs) that become chargeable as a result of the transferor’s death are filed at the deceased's death file. If a transferor dies any existing lifetime files for transfers that were (or were potentially) chargeable when made are cancelled (IHTM03270) to the death file and put inside the death file cover.