If a government security is a FOTRA gilt (
IHTM04291) you will have to consider
who is beneficially entitled (
IHTM04031) to that security to work out
whether it is excluded property for IHT purposes.
If a worthwhile amount of tax is at stake you should
investigate the possibility of a last-minute purchase. Except where
the available information (e.g. inclusion of sufficient
income/interest) reasonably rules out that possibility, you should
seek specific confirmation that the gilts concerned were in fact
registered in the transferor’s, or the trustee’s,
name(s) at the date of the relevant transfer.
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
