IHTM34032 - PC&S/Compliance Group procedures: is the claim for relief in the approved format?
You can only accept a claim for loss on sale of shares relief if
it is made on form IHT 35 by the ‘appropriate person’ (
IHTM34161). If there is more than one
executor or trustee they will all need to sign the form.
Form IHT 35 provides all the information that we need in
order to consider a claim for relief. If a claim is made in any
other way (e.g. in a letter or by corrective account (
IHTM10000)) you should send two copies
of the IHT 35 to the taxpayers or their agents. You should explain
in a covering letter that
- we can only accept claims that are made on a form IHT 35, and
- the appropriate person must complete and return a signed copy of the form.
There is no time limit for making a claim. You may receive more
than one claim from the appropriate person if, for example, blocks
of shares are sold at different times within the year following the
death. The appropriate person must also complete a separate IHT 35
if relief is being claimed for losses on shares held as part of an
underwriting deposit (
IHTM34080).
Generally you should leave it to the taxpayers to decide
whether they wish to make a claim. But you should bring the relief
to the attention of personal applicants and send them copies of the
IHT 35 if you become aware that shares are being sold.
You should not leave your case or enquiry open to wait for
possible claims for relief.
