IHTM31136 - Making amendments: new Entries

If one has not already been prepared, you can add a new Entry ( IHTM31011) from the “Estate Details” ( IHTM31131) window.

• Press the Add button in the Entry option box (with the drop-down menu). This will take you to a new window for an Entry with the next consecutive letter. For instance, if your last Entry was B, the next will be C. (For this reason you should consider the order of your Entries before you set them up.)
• Give a description of the new Entry, such as “F Bloggs Will Trust”. What you write here will appear as the title on printed assessments.
• Select the appropriate type of chargeable transfer from the drop-down stats box. Ensure that this is correct, as you cannot change it later.
• If the Entry relates to a lifetime transfer, insert the date of transfer in the new box that will appear. If you are including a number of transfers within the same Entry, use the date of the last transfer. COMPASS will use the date to calculate any taper relief ( IHTM14611) and interest.
• Click on the OK box to confirm that you want to add the Entry.

An NIOP ( IHTM31011) assessment group is automatically set up. Add other assessment groups, asset, liabilities and reliefs in the usual way.

COMPASS will bring forward the agent and liable people details from the previous Entry. It is likely that you will need to change some of these. Do this in the usual way, ensuring that the correct Entry is displayed in the Entry option in the Estate Details window.

Shortcut

You can add a new Entry in the Case Outline window. Choose any Entry folder and click once with the right hand mouse button. This will produce a menu from which you can select “Add Entry”.