HMRC internal manual

Inheritance Tax Manual

Pensions: alternatively secured pension (ASP) between 6 April 2006 and 5 April 2007: excepted estates

You should check the other guidance available on GOV.UK from HMRC as Brexit updates to those pages are being prioritised before manuals.

From 1 September 2006, where the deceased’s estate includes an interest in an ASP fund the estate cannot qualify as an excepted estate and the personal representatives must deliver an IHT400. Because scheme administrators are also accountable to HMRC it is possible that we may receive an IHT100 or IHT105 for an estate that has incorrectly applied for a grant as an excepted estate.

Such cases, particularly where an IHT105 has been delivered, should be referred to those in Compliance responsible for dealing with excepted estates. It is unlikely that we will still have access to the IHT205/C5 used to apply for the excepted estate grant so where information about the net estate from the Calendar of Grants suggests that tax is at risk the personal representatives should be asked to deliver an IHT400.