HMRC internal manual

Inheritance Tax Manual

Life Policies: policy on the deceased’s life not connected with any other transaction (except a trust): policy unconnected with a gift or trust: possible discount

Exceptionally, some policies provide that the claim value (IHTM20084) will not be payable until

  • a certain period has passed since the death, or
  • certain formalities other than those referred to at IHTM20211 have been complied with.

Any claim for a discount in these circumstances should be referred to the Actuarial Team.