IHTM23014 - Investigation of form IHT405: Pages 2 and 3 of form IHT405

Pages 2 and 3 of the IHT405 are divided into columns identified by the letters A to G which contain the following information

A. an item number for each item of land.

If there is more than one item of land but the taxpayer has not given each item a number in this column you should do so yourself before a referral ( IHTM23031) is made to the VOA ( IHTM23002).

B. the address or a description of the land.

Where land is not numbered, or is farmland or other land without an address, the taxpayer should send a plan showing the boundaries clearly. You should consider whether the information provided is likely to be sufficient for the VOA to identify the land and, if not, ask the taxpayer to clarify the location of the property. For example, if the description on the IHT405 indicates that the item to be valued is an isolated parcel of land and no plan or Ordnance Survey reference has been provided you should request a plan before instructing the VOA. However, please do not defer a referral if this aspect is a subsidiary aspect of the entirety ( IHTM23033). Also, please note that the VOA database is designed to identify properties using their Postcode, therefore, wherever possible, you should ensure that a full Postcode is provided for each item.

If the property is jointly owned ( IHTM15011) the taxpayer should also write the deceased’s share under the description of the property. If the share has not been entered, you should do so yourself.

C. The postcode for the land

D. whether the deceased’s interest is freehold or leasehold ( IHTM23001).

If it is leasehold the taxpayer should say what rent, if any, is paid. If this section is not completed you should assume the land is freehold unless there is any indication otherwise (such as, where the property was a flat or maisonette), in which case you should clarify the position before referring it to the VOA.

E. particulars of the tenancy if the land is let by the deceased to another.

If the property was unoccupied at the date of death the taxpayer should write ‘vacant’ in this column. Where it was let to another under a written tenancy agreement a copy of the agreement should be supplied. If there is no written agreement the taxpayer should list

• the date the tenancy/lease began
• how long the property was let for
• what rent is payable and whether the rent can be reviewed
• who is responsible for the outgoings on the property, and
• the name of the tenant

If this part is left blank you should assume that vacant possession was available unless there is anything which indicates the contrary – in which case you should obtain the information listed above before referring the land to the VOA.

F. any value on which agricultural relief ( IHTM24001), woodlands relief ( IHTM04121), business relief (IHTM25001) or heritage exemption ( IHTM04111) is claimed.

If heritage exemption is claimed and the land has at any previous time benefited either from heritage exemption or from an approved maintenance fund the taxpayer should also fill in form IHT420 with details of

• the name of the person who died earlier or who made the gift
• the date of death or the date of birth of the person
• any IHT reference concerning this previous occasion

If this section is left blank you should presume that the taxpayer does not want to deduct any reliefs or exemptions, unless the contrary is indicated elsewhere in the file.

G. the taxpayer's estimate of the open market value of the land at the date of death.

If the taxpayer does not give a value for each item of land you should ask them to do so before referring the land to the VOA.