Ensure that the Estate Details window is open and then click on
Raise in the Assessment menu. The Calculation of Rate Chargeable
window will appear.
If the settlor’s previous lifetime cumulative transfer
(PLCT) needs to be taken into account, include it in the
appropriate box.
Select the rate of charge by selecting statutory reference
section 66, 67, 68 or 69 from the drop down menu.
Click on the raise button to continue. NIOP (
IHTM31012) and IOP assessments raise in
the same way as for death estates (
IHTM31181), except for the additional
RAT button for reduction charges.
Reduction charges
Press the RAT button to display the Reduction Charges window.
This displays any deductions against tax that COMPASS has
calculated automatically based on the information already on
COMPASS. The deductions will be in respect of the complete quarters
that the property subject to the charge was not relevant property.
If the information is not correct, cancel the assessment and
go back into the COMPASS record to amend the underlying
information.
Issue
Issue (
IHTM31210), print and pay (
IHTM31211) the assessments as you would
for a death estate.
