The relief is restricted if the person who is claiming the
relief purchases ‘qualifying investments’ (
IHTM34131) in the period between the
date of death and two months after the date of the last sale.
Details of any sales should be provided in part 2 of the form IHT
35.
If the question in part 2 of the IHT 35 is answered
‘Yes’ you should make the following checks
| Check | Action |
| a) Has 2 months elapsed since the date of the last sale shown in column B? | If not, return the form IHT 35 and file if it attached to the caseworker stating ‘last sale within 2 months of submission, return to check whether any additional shares purchases by parties and amend the IHT 35 accordingly, return to FACET when two months have elapsed.’ |
| b) Check that purchase prices used in part 2 are within the Extel Business Done range for the date they were purchased. | If not, amend the purchase price shown on the IHT 35. |
| c) Are any of the purchases included in part 2, actually payments in respect of ‘call’ ( IHTM34101) or the taking up of a rights issue ( IHTM34104)? | If so the purchases should be deleted from part 2. |
| d) Check the calculation of the allowable loss in part 2 using revised figures where appropriate. | Either
|
You can get more detailed information about the restriction for
purchases at (
IHTM34211).
Special rules (
IHTM34193) apply if the
‘appropriate person’ (
IHTM34161)
