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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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IHT 100 (2003 onwards): When to use IHT 100

The IHT 100 should be used to inform us of the following:

  • Lifetime transfers by an individual that are chargeable to inheritance tax at the time they are made.
  • Potentially exempt transfers where the transferor has not survived for seven years. (There is no requirement to tell us about such a transfer while the transferor is alive).
  • The termination of an interest in possession in settled property (e.g. the ending of a life interest) which occurs during the life of the life tenant and is chargeable to inheritance tax at the time of the event. (If the ending of the interest in possession is not chargeable at the time of the event there is no requirement to tell us about it unless the life tenant dies within seven years of the event).
  • The termination of an interest in possession in settled property within seven years of the death of the life tenant.
  • The termination of an interest in possession in settled property arising as a result of the life tenant’s death.
  • Property given subject to a reservation
  • Property ceasing to be held on discretionary trusts (proportionate or exit charges).
  • Principle charge on the ten-year anniversary of a discretionary trust.
  • Flat rate charges arising when special trusts stop meeting the conditions that entitled them to special tax treatment. E.g. Temporary charitable trusts ceasing to have charitable status or accumulation and maintenance trusts becoming interest in possession trusts other than when beneficiaries reach the specified age.
  • Recapture charges (e.g. the ending of an entitlement to conditional exemption or disposals timber or underwood).