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HMRC internal manual

Inheritance Tax Manual

Life Policies: investigating form IHT403: gift of an existing life policy

In this case the taxpayer should have given the requested information in the schedule in Part 1 (or, in rare cases, in Part 3) of form IHT403.

For what to do follow the guidance at IHTM20043.

If the deceased paid any premiums on the policy after it was gifted, you should also consider the guidance at IHTM20044.

There is other guidance that is also relevant at IHTM20221.