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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Assessing: COMPASS: chargeable lifetime transfers: introduction

Death

COMPASS will allow you to prepare calculations on a death case for transfers after 18 March 1986 (IHTM31014) for

  • the death estate (this includes free estate, settled property (IHTM04080), GWRs (IHTM14301) where the reservation ceases on death) and other property aggregable with it
  • failed PETs (IHTM14512) (including GWRs where the reservation ceases during lifetime), and
  • additional charges (IHTM14571).

Lifetime

At a lifetime case, COMPASS will allow you to prepare calculations in respect of transfers after 18 March 1986 which are

But, where you need to make an calculation for such a transfer, you will need to create a new case record (IHTM31235) on COMPASS.