Gifts: gifts of business assets: form of claim
For years up to and including 1995-96 there is no prescribed form of claim. For 1996-97 onwards claims must be made on the form on the Help Sheet HS295, or on a copy of the form. You should insist that the form is fully completed. This avoids the serious problems which have arisen in some cases from a lack of information held by the donee when he or she eventually disposes of the asset. Furthermore TMA70/S42 (1A) requires the claim to be quantified.
Claims must be made by the taxpayer personally. If however the donor or donee is dead their claim is to be made by the personal representatives.