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HMRC internal manual

Inheritance Tax Manual

HM Revenue & Customs
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Completing the account: reduced account

IHTA84/S216 requires personal representatives (IHTM05012) (PRs) to deliver an account specifying, to the best of their knowledge and belief, the property that makes up the deceased’s estate and its value. But, where there is no tax to pay because part of an estate is exempt (IHTM11001) from Inheritance Tax we do not need precise values for items that pass to exempt beneficiaries. So, where certain conditions are satisfied we will accept a reduced account (IHTM10471) as complying with IHTA84/S216. The conditions were also published in a Press Release (PR147/00) dated 25 September 2000 and leaflet IHT 19.