IHTM10804 - Accountability: when is an account not required?

The Board of HMRC may make regulations dispensing with the delivery of accounts, IHTA84/S256. At present accounts are not required for

• excepted estates (IHTM06012)
• excepted transfers (IHTM10823)
• excepted terminations (IHTM10834).

In addition the formal rules may be relaxed in some circumstances for

• lifetime transfers (IHTM10503)
• a qualifying interest in possession (IHTM10505).

The other situation where there is no requirement for an accountable person to deliver an account is where a full and proper account of the property has already been delivered by someone else who

• is or would be liable for the tax attributable to the value of the property, and
• is not or would not be liable with the accountable person as trustee, IHTA84/S216 (5).

This rule does not apply in the case of an account to be delivered by the personal representatives.