IHTM18012 - Investigating form IHT411 and IHT412: reviewing the forms
The taxpayer will record all of the deceased’s stocks and shares and securities which are listed on the UK Stock Exchange, giving full identification details and the open market value (IHTM09703). The total values of the holdings and any dividends/interest should be shown in columns four and five, which in turn should be included in the totals at SS1 and 2.
- Look out for any “green ink amendments” made by PC&S, and undertake any follow-up action as described in the “PC&S share checks” (IHTM18021) guidance in this section of the Manual.
- Ensure that the totals at SS1 and SS2 are correctly carried over to boxes F1 and F2 at page 3 of the IHTM200
The taxpayer will include full details of the stocks and shares held by the deceased at the date of death which were not listed on a recognised stock exchange, or on any alternative market. These shares are usually in limited (Ltd) companies.
- The further instructions (IHTM18025) will tell you how to deal with these investments.
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The taxpayer will include full details of the shares held by the deceased at the date of death which were traded on an alternative market (IHTM18331). PC&S will have noted on the form what exchange the investments were traded on, such as AIM or OFEX and whether business relief (IHTM25131) at 100% might be due.
- You can find guidance on how to deal with these investments (IHTM18026) in the following pages.
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The taxpayer will include any shares that are listed on the UK stock exchange, where the deceased had a control holding (IHTM18111). This will be extremely rare