IHTM29108 - Enquiry Reporting System (ERS): other boxes on the yield screen

As well as recording changes to assets, reliefs and exemptions, you may need to record other information on the yield screen contains a number of boxes that you may need to complete.

Interest

Any interest paid on adjustments to yield should be recorded as interest yield in this box ( IHTM29090).

The overall figure is not broken down between assessments or entries. If there are more than one or two assessments you should write a separate explanatory note at your file or in the COMPASS notes box, showing how you arrived at the interest figure recorded. This will avoid duplication and mean that the figure can be verified or cross-checked later.

Reliefs against tax

If the work you have done results in a change to Double Taxation Relief, Quick Succession Relief or Taper Relief, you should enter the net result of these changes in this box.

• Show a net increase in the relief as a positive figure and a net decrease as a negative figure.
• If there is a change in relief because, for example, your work resulted in an increase in the value of taxable gifts, you should show the additional taper relief (as a positive figure) in this box.

Sub threshold changes

This box is for estates where the baseline figure was below the threshold, to help adjust the yield calculation. It is particularly relevant where the taxpayer has volunteered non- yield amendments in addition to changes that you have uncovered.

You should use this box to record any amendments volunteered by the taxpayer that alone do not take the case over the threshold. This will make sure that ERS calculates the yield correctly. The value in this box should not exceed the difference in value between the chargeable estate as originally reported and the relevant threshold; and can never exceed the threshold.

Changes to previous lifetime cumulative total

Where your investigations lead to an uplift in the previous lifetime cumulative total, you should record the net value of that change in this box so that ERS can calculate the yield correctly. However, if the change to the value of the gift results in the gift itself becoming taxpaying you should raise the necessary calculations and record the individual adjustment(s) at that entry in the usual way, instead.

Omitted gifts

Recording details of our adjustments does not differentiate between omissions and uplifts. Although you should have already recorded any changes to the previous lifetime cumulative total in the appropriate box (or raised calculations if the threshold is exceeded) you should show here the net value of any omitted gifts brought into charge - whether they exceed the threshold or not.

This means that both these boxes should be completed if the change results from an omitted gift that keeps the previous lifetime cumulative total below the threshold. If the omitted gift is taxpaying, raise the necessary calculations, but also record the net value of the omitted gift here.

Penalty boxes

Penalties are recorded on a separate system. Do not record any figures relating to penalties here.