IHTM14023 - Investigating form IHT403: considering further gifts

You will also need to consider whether there may be gifts that have not been reported. Possible indicators of lifetime gifting include

• the deceased lived in a nursing/residential home (possible gifting on or after moving into the home)
• Powers of Attorney
• substantial loans by the deceased
• CGT liabilities
• the deceased was at some time either a company director or self-employed
• significant gifts already disclosed
• a substantial estate but little by way of personal or liquid assets
• items referred to in the Will but not forming part of the estate
• evidence of gifting from answers to joint property questions
• lifetime transfers from changes in the deceased’s pension entitlement
• release of debts shown on schedule IHT416.

Any of the above may indicate gifts which have been made but not disclosed. If you identify and of these factors, consider whether you need to approach the taxpayer for more information to clarify the actual position on lifetime gifts.