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HMRC internal manual

Inheritance Tax Manual

Life Policies: investigating form IHT403: introduction

There are two situations in which transfers of value in connection with life policies should be recorded on form IHT403. These are:

  • a gift of an existing life policy, or the effecting and immediate gift of a new life policy (IHTM20042)
  • the payment of premiums on a life policy for the benefit of someone else (IHTM20043).