IHTM14051 - Investigating IHT100: introduction

The IHT100 (IHTM10501) is a separate account delivered by the transferee of a lifetime gift, or the transferor if it is an immediately chargeable transfer (IHTM04067).

The separate instructions will advise you when to ask for an IHT100 account if one has not already been delivered. (IHTM10503)

The format of the account is much like the IHT400 (IHTM10021) account, with lists of assets and liabilities on pages 3 and 4 and supplementary pages to provide more detail about them. There are however separate event forms to give more detail about the transfer itself, depending upon the type of transfer.

Section A

The taxpayer will tick one of the appropriate boxes and complete a separate event form about the transfer.

You will only need to consider transfers at boxes A1 and A2, and the appropriate event forms IHT100a (IHTM14052) and IHT100b (IHTM14053). The remaining types of transfer are dealt with separately by non-death caseworkers.

Section B

The taxpayer will provide the usual details about the transferor. This is particularly helpful if a full IHT200 account has not yet been delivered.

Section C

Particularly note the person to contact if it is different from the contact for the free estate. You must only discuss details about the transfer with the appropriate person (IHTM10801).

Section D

The taxpayer will indicate the types of property involved in the transfer and any reliefs claimed. They will also complete the appropriate schedules detailing the property.

Section E

The total values of the NIOP (IHTM30012) assets and liabilities transferred are listed by the taxpayer. Ensure that the total values tally with the values in the supporting schedules and that they are correctly carries forward into the calculations of tax.

Section F

Similar to section E, but the information relates to IOP.

Sections G and H

Review the relevant sections to ensure that the appropriate amount of tax has been calculated and match any assessments on COMPASS (IHTM31101). Particularly note any lifetime exemptions (IHTM14131) or reliefs (IHTM14131) that have been claimed to determine whether they can be allowed.

Sections J

This is important only if you have to make a repayment of tax.

Section K

Ensure that the appropriate person has signed the declaration (IHTM10546)