Investigation of form IHT404: what information does form IHT404 contain?
Form IHT404 asks for the following information for each jointly held asset
- a description of the asset
- who the joint owner(s) (other than the deceased) were
- when the joint ownership began
- how much each joint owner provided to obtain the property
- who received any income or interest generated by the property
- whether the deceased’s share passed by survivorship (IHTM15081) to the other joint owner(s) or under the deceased’s Will (IHTM12041) or intestacy (IHTM12101)
- the value of the whole item and the value of the deceased’s share of it.
- details of any liabilities that are to be deducted
- details of any exemptions that are due.
If any of this information is not provided you should use your discretion as to whether or not to ask for it. You should bear in mind that joint assets passing to a spouse or civil partner (IHTM11032) (IHTM11041) will be exempt.