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.
- The individual shareholdings need not be replicated on the forms, but a total value should be shown.
Service will undertake share checks (IHTM18021) on the form when the account is received in the Office. They will review the results of their checks and take the appropriate action
IHT 411 gives details of shares that are listed on the stock exchange
IHT412 gives details of shares that are
- Not listed on the stock exchange
- Traded on an alternative market
- Listed on the UK stock exchange, where the deceased had a control holding
Business relief (IHTM25131)
The IHT412 will provide details of any business relief 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.