Stocks and shares: investigating forms IHT411 and IHT412: introduction to the forms
Forms IHT411 and IHT412 are supplementary schedules to the IHT400 (IHTM10021). On the forms, the taxpayer should list details of all of the stocks, shares and investments that the deceased beneficially (IHTM04441) owned at the date of death, together with their open market (IHTM09703) valuations.
Often the taxpayer will submit a stockbroker’s valuation report and attach it to the forms. If they do, they should show a total value on the forms but they do not have to repeat the details of individual holdings.
IHT411 (Listed stocks and shares) gives details of shares that are listed on the UK stock exchange except where the deceased had a control holding.
IHT412 (Unlisted stocks and shares, and control holdings) gives details of shares that are
- listed on the stock exchange, provided the deceased had a control holding,
- traded on an alternative market,
- not listed on the UK stock exchange or on any alternative market.
The IHT412 will provide details of any business relief (IHTM25131) claimed. The taxpayer is also required to state whether the shares have been owned for the required two-year period up to the date of valuation.