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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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IHT 400: Other assets taken into account to calculate the tax (page 10)

Boxes 97 to 108, on page 10 of the account give details of assets, other than the those owned by the deceased and in the UK that need to be taken into account when calculating the tax.

These are

  • Foreign assets that qualify for the instalment option (box 97), listed at box 5, on form IHT417 (IHTM27001).
  • Foreign assets that do not qualify for the instalment option (box 98), listed on form IHT417, box 10.(IHTM27001),
  • Assets held in trust that qualify for the instalment option, on which tax is to be paid now (box 99), listed on form IHT 418, box 12.(IHTM16041).
  • Assets held in trust that do not qualify for the instalment option on which tax is to be paid now (box 100), listed on form IHT418, box 17. (IHTM16041).
  • Nominated assets (box101), listed on pages 15 and 16 of the IHT400
  • Gifts with reservation and pre-owned assets, (box 104), listed on form IHT403, box 17 (IHTM04072).
  • Assets held in trust on which tax is not being paid now.(box 105), listed on form IHT418, box 18 (IHTM16041).
  • Alternatively secured pension funds (box106), listed on Form IHT409, boxes 32 or 42-only when the date of death is between 06/04/06 and 05/04/07, inclusive.

The total value of these other assets is added to the total of the deceased’s estate in the UK to arrive at the figure for the total chargeable estate shown at box 108.