Form IHT418 is one of the schedules to form IHT400 (
IHTM10021). It is used by the personal
representatives (
IHTM05012) to give details of any trust
in which the deceased had an interest in possession (
IHTM16061). Where the deceased became
beneficially entitled to the interest in possession on or after 22
March 2006, the form will only be appropriate if the interest is an
immediate post-death interest, a disabled person’s interest
or a transitional serial interest. The details given are used to
calculate the value of the aggregable estate before the grant and
assess the IHT due on the free estate. The IHT418 is considered by
the risk assessors as part of their review before the case is
passed to the PC&S/Compliance Group caseworker. (
IHTM07100)
The trustees are primarily liable for the IHT (
IHTM30091) on settled property and they
complete a separate account, form IHT 100 (
IHTM10501). If the risk assessors refer
the IHT400 to PC&S they will state on Route 1 or Route 2 (
IHTM08087) if an IHT 100 should be
requested from the trustees (
IHTM10505).
Page 1 of the IHT418 asks for
The date of creation of the trust can be in the settlor’s
lifetime or under their will (
IHTM12041) or intestacy (
IHTM12101).
Pages 2 and 3 ask for details of the assets of the trust,
their values, and any deductions for liabilities and/or claims for
exemptions and reliefs.
Page 2 is for details of the non-instalment property in the
trust and page 3 for the instalment option property.
Page 4 is for details of any future rights to assets in a
trust (
IHTM04251).
