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HMRC internal manual

Inheritance Tax Manual

Lifetime transfers: omissions: possible omissions of lifetime transfers

When considering an estate, you should be alert, to the possibility that chargeable lifetime transfers may have been made but have not been declared.

Many of the instances where lifetime transfers may be omitted are highlighted in the section of the manual dealing with investigating the IHT403 (IHTM14023).

If an omitted lifetime transfer does come to light after the taxpayer delivers an account, you must consider whether penalty action is appropriate (IHTM36101).