Investigating Event Form: IHT 100a - Gifts and other transfers of value including failed potentially exempt transfers
This is the usual event form to the IHT100 (IHTM14051) that you will consider as it relates to most lifetime transfers.
The form gives specific details about the transfer so that you can correctly consider the taxation implications. You must consider:
- the transferee and their share taken - is the person signing the declaration (IHTM10546) the appropriate person and are there any joint or related property issues?
- whether the value of the transfer must be grossed-up (IHTM14593)
- whether the transfer was a sale at undervalue, in which case you can only charge the difference between the consideration and the loss to the estate (IHTM04054)
- if any associated operations provisions may be in point with respect to connected transactions or transactions connected to the assets concerned
- the extent of any related spouse or civil partner’s (IHTM11032) property (IHTM09731)
- the extent of any related property (IHTM09731) in connection with unquoted shares
- what information you require in respect of policies of insurance or annuities before the mandatory referral (IHTM14022)
- the extent that you must bring any earlier transfers into cumulation (IHTM14502)
- if there is a GWR (IHTM14301), obtain all of the necessary facts as you would if investigating the IHT403 (IHTM14025) before the mandatory referral (IHTM14022)