IHTM03202 - Form 403: what is recorded on Form 403?

You should complete the following information on the Form 403

  • Date of charge/valuation - you should enter the date of each chargeable event dealt with in the sub-file.
  • Charging provisions - you should tick which charging provision is being applied to the events being dealt with in the sub-file.
  • Property subject to charge - you may write down the value of the property that is being charged to tax and tick the relevant box to show whether the figures include grossing (IHTM26121)
  • Rate of charge - you may tick the relevant box showing which rate provision is being applied to the chargeable event
  • Reliefs, exemptions, excluded property - you may enter brief details of these here
  • Trust continues - you should tick these boxes to show whether after the chargeable event the trust continues and, if so, whether it should still be taxed as a relevant property settlement
  • Additional points - this space is used to show how the rate of tax that is to be applied to the chargeable event is calculated, together with any information used to help you calculate the rate
  • Open (O) - this should be signed and dated when the sub-file is opened
  • Sat - this should be initialled and signed when the you are satisfied with the value of the assets being dealt with in the sub-file
  • Closed (C) - this should be signed and dated when the sub-file is closed
  • Items for which a corrective assessment required - this may be used as a reminder box for replies