IHTM10652 - IHT100 (2003 onwards): When IHT100 is not appropriate

Form IHT100 should not be submitted when a gift or other transfer of value is made by an individual and:

• it is of cash, quoted shares or securities only and the value of the gift together with any chargeable transfers (IHTM04027) made in the previous seven years does not exceed the current Inheritance Tax nil rate band.
• the amount of the gift, after exemptions, and any other chargeable transfers made in the last seven years is not more than 80% of the current nil rate band, and the transfer of value (IHTM04024) (before exemptions), together with the value of all chargeable transfers made in the last seven year does not exceed the IHT nil rate band
• An interest in possession is terminated where the life tenant has given the trustees notice informing them of the availability of an annual exemption or marriage and civil partnership (IHTM11032) gift exemption and the exemption covers the whole of the value transferred.

Normal expenditure out of income exemption

Where it is claimed that normal expenditure out of income exemption applies and denial of the exemption - either in respect of a single gift (whether it is the first of a planned series of gifts or a gift within a series) or cumulatively taking into account earlier transfers - would mean that there is a liability to IHT, an account should be delivered so that the availability of the exemption can be agreed.