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HMRC internal manual

Inheritance Tax Manual

Succession: Information given at boxes 24 to 28 of the IHT400: Other items in the Will

A Will often includes a number of specific legacies (IHTM12082). For example, a particular item may be left to a beneficiary or the Will may write off a loan that is still outstanding at death. The deceased may also refer to gifts that they may have made during their lifetime in the Will.

Boxes 27 and 28 on the IHT400 reminds the taxpayer or agent to look at the Will and account for any items that are specifically referred to in the Will but are not included in the IHT400.

Details should be given about any gifts made. The taxpayer or agent should say when the gift was made, who received the gift, and the value of the gift at that time. If any of the items were sold the taxpayer or agent should give details of the sale and say where the proceeds are included in the estate.

You need to consider (IHTM12033) the response to this question carefully, particularly where the Will refers to a loan made by the deceased.