IHTM09000 - Investigating accounts and principles of valuation: contents

Summary
Investigation
Valuation

Summary

IHTM09001Summary

Investigation

Investigating accounts

IHTM09021Purpose
IHTM09022General approach
IHTM09023Best practice
IHTM09025Summary of the various stages involved in investigating an account (chart)
IHTM09030What you should do when you receive a new account
IHTM09031What to consider when looking at information in an account
IHTM09032Building up a picture of the deceased or transferor
IHTM09035Estimated values
IHTM09036Exempt or partly exempt estates
IHTM09060Reviewing replies
IHTM09061Analysing bank statements
IHTM09062Meetings with taxpayers
IHTM09080Failure to reach an agreement with taxpayers

Raising enquiries

IHTM09051When to make your initial enquiries
IHTM09052Purpose and aims
IHTM09053Full enquiries

Negotiating a settlement

IHTM09071When to consider negotiation
IHTM09072Examples of negotiating situations
IHTM09073Negotiating limits

What to do when you discover an omission or under valuation

IHTM09082General
IHTM09083Criteria for considering penalties
IHTM09084Omissions discovered by HMRC
IHTM09085Under valuations discovered by HMRC
IHTM09086Omissions disclosed by taxpayers
IHTM09087Under valuations disclosed by taxpayers
IHTM09088S.248(1) penalties

Investigating no-grant cases

IHTM09091Introduction
IHTM09095Procedures for pursuing delivery of an account (chart)
IHTM09100Initial research and information gathering
IHTM09101Additional research and information gathering
IHTM09102Approaching the accountable or liable persons
IHTM09103Accountable persons not identified
IHTM09104Failure to comply with request to deliver an account
IHTM09105What to do when you receive an account

Avoidance

IHTM09151Introduction
IHTM09152Possible avoidance areas

Liaison with other HMRC offices

IHTM09201Introduction
IHTM09230Exchange of information with HMRC Trusts (LIT 1 procedures)
IHTM09231Informal liaison
IHTM09232Special Compliance Office (SCO)

Exchange of information with tax offices (form 984 procedures)

IHTM09211When do the procedures apply?
IHTM09212What features should an estate have before you complete a form 984?
IHTM09213Completing and issuing form 984
IHTM09214No trace of tax office
IHTM09215Liaison with Centre for Non-Residents and Special Compliance Office

Exchange of information with tax offices (form 982 procedures)

IHTM09221Requests from tax offices for further information
IHTM09222Receiving information from tax offices
IHTM09223How to use information from tax offices

Ascertained values

IHTM09241Introduction
IHTM09242When is a value 'ascertained'?
IHTM09243When is a value not 'ascertained'?
IHTM09244Responding to requests for ascertained values from other HMRC offices

Information sources

IHTM09251Introduction
IHTM09310Calendar of grants
IHTM09311Land Registry
IHTM09312Electoral Register
IHTM09313Board Papers

Risk, Research and Liaison Team (RRLT)

IHTM09261What the team does
IHTM09262Types of research undertaken
IHTM09263Standard research
IHTM09264Additional research
IHTM09265Specified research and Standard Intelligence Pack (SIP)
IHTM09266Procedure for requesting research
IHTM09267Exchange of information with Department for Work and Pensions (DWP)
IHTM09268Requests from a local authority or a National Minimum Wage Officer

Databases

IHTM09281TPI Datamart
IHTM09282SA View
IHTM09283IMAGES
IHTM09284Lexis Nexis
IHTM09285Internet
IHTM09286VOA Database
IHTM09287Shipping Registry
IHTM09288RRLT database
IHTM09289Registers Direct
IHTM09290VOA Paisley University Database

Tax files

IHTM09301General
IHTM09302Types of tax file
IHTM09303Calling for tax files
IHTM09304Reviewing files
IHTM09305Maintaining confidentiality
IHTM09306Returning tax files

Third party information

IHTM09331Introduction
IHTM09332When do you need third party information?

How to approach third parties

IHTM09341With the taxpayer's authority
IHTM09342Without the taxpayer's authority

How to use third party information

IHTM09361General approach to disclosure of information
IHTM09362Sources of information
IHTM09363Information received under statutory information powers
IHTM09364Information received under a Double Taxation Convention
IHTM09365Information supplied informally
IHTM09366Initial dealings with the taxpayer
IHTM09367Taxpayer denies irregularities

Obtaining mandates

IHTM09381Introduction
IHTM09382Form of mandate for banks and building societies
IHTM09383Form of mandate for general use (except for banks and building societies)

Third party information and the Data Protection Act 1998

IHTM09391Introduction
IHTM09392Main provisions of the Data Protection Act 1998
IHTM09393Information you can ask for without falling foul of the non-disclosure provisions
IHTM09394Handling information obtained

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

Outside meetings and visits

IHTM09481General rules
IHTM09482Personal safety
IHTM09483Avoiding misrepresentations and allegations of misconduct
IHTM09484Meetings with taxpayers at their private residences
IHTM09485Procedures to be followed after a meeting with taxpayers at their private residences
IHTM09486Visits to third parties

RIPA

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)
(This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)
(This text has been withheld because of exemptions in the Freedom of Information Act 2000)(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

Certificates of full disclosure and corrective accounts

IHTM09521General
IHTM09522When to ask for a certificate or account
IHTM09523Issuing a certificate or corrective account
IHTM09540Receiving the completed account or certificate

Examples of statements and certificates of full disclosure

IHTM09531Statement to be issued with a corrective account
IHTM09532Certificate of full disclosure
IHTM09533Statement on the reverse of a certificate of full disclosure

Valuation

Introduction

IHTM09701Introduction
IHTM09702Specific types of property
IHTM09703Open market value
IHTM09704Main features of a sale in the 'open market'

Valuing property in an estate

IHTM09711General principles
IHTM09712Valuing property together
IHTM09713Including property otherwise left out of account for tax purposes
IHTM09714Authority for valuing items of property together
IHTM09715Valuing items of property separately

Related property

IHTM09731Introduction
IHTM09732How the rules work
IHTM09733Definition of related property
IHTM09734Apportionment of aggregate value
IHTM09735The general rule for calculating the appropriate portion
IHTM09736The special rule for calculating the appropriate portion
IHTM09737When to use the special rule?
IHTM09738What happens when both the general and special rules apply?
IHTM09739Property owned jointly by husband and wife, or civil partners

Sales of related property etc

IHTM09751Introduction
IHTM09752What the relief does
IHTM09753What the relief does not do
IHTM09754Conditions for relief
IHTM09755Property that qualifies for relief
IHTM09756Who may make sales?
IHTM09757Sales may not be made in conjunction with the sale of related or other property with which it was originally valued
IHTM09758No connection between vendor and purchaser
IHTM09759Vendors must not acquire rights to sold property
IHTM09760Price obtained on sale must be less than the original value
IHTM09761Sales of shares in companies
IHTM09762Relationship between s.176 and loss on sale of shares relief
IHTM09763Example of how to revalue property when both the loss on sale of land and sales of related property provisions apply

Restrictions on the freedom to dispose of assets

IHTM09771Introduction
IHTM09772General rule for ignoring a restriction
IHTM09773What is a relevant event?
IHTM09774Consideration given for the restriction
IHTM09775No consideration given
IHTM09776Contracts made before 27 March 1974
IHTM09777Option to purchase is exercised



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