IHTM14627 - Fall in value relief: the claim

No form is prescribed for the claim, but any such claim

• must be signed by one or more of the persons liable for the tax (or additional tax)

and

• identify the transfer and the transferred property
• confirm that the property has been retained by the transferee (or their spouse or civil partner ( IHTM11032)) or has been sold by a qualifying sale (details of which should be provided)
• confirm that the property is in all respects the same at the date of death or sale as at the time of the transfer or give details of the changes which have taken place.

The person making the claim should also provide an estimate of the relief sought, which may normally take the form of an estimate of the market value at the date of death or sale

No valid claim

If you receive a claim which is not valid, inform the taxpayer what is required for a valid claim and suggest that they re-submit it.

Alternatively, if you notice from correspondence provided that relief may be due, but has not been claimed, you may draw it to the taxpayer’s attention.