On cases that are marked ‘sampled’ you will need to data capture the lifetime gifts made in every tax year within the seven years prior to the deceased’s death. You do not need to data capture gifts in any one tax year if they are fully covered by annual or small gifts exemptions.
Gifts which are fully covered by reliefs or exemptions (other than annual or small gifts exemptions) still need to be data captured along with the reliefs or exemptions claimed. If it is not clear where a particular exemption or relief should be data captured you should put it against the first gift made in that tax year.
Where there is a liability to tax on the gifts you should data capture by tax year as above but you will need to create separate entries for each tax year for each donee so that each person’s liability is clear.
Where taper relief applies and there is a change in the rate of relief available during the tax year you may need to create more than one entry for a particular year in order to calculate the tax correctly.
COMPASS is capable of handling cases with up to 78 separate entries. Starting with the letter A, for the Free Estate, COMPASS picks the next available letter of the alphabet as the name for each entry until it reaches the letter Z. Following this, Compass creates entries named AA to ZZ, and then AAA through to ZZZ. You should not attempt to create any further entries once you have reached entry ZZZ. Any file where you believe it may be necessary to create more than 78 individual entries on COMPASS should be referred to the PPT for advice before it is data captured.