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HMRC internal manual

Inheritance Tax Manual

Loss on sale of shares: contents

  1. IHTM34001
  1. IHTM34010
  2. IHTM34011
    Background: Basic Conditions
Service/Compliance procedures
  1. IHTM34020
    Service/Compliance procedures: Introduction
  2. IHTM34021
    Service/Compliance procedures: Key stages in dealing with a claim for relief (chart)
  3. IHTM34030
    Service/Compliance procedures: Receiving a claim for relief (chart)
  4. IHTM34031
    Service/Compliance procedures: Who is responsible for dealing with the claim?
  5. IHTM34032
    Service/Compliance procedures: Is the claim for relief in the approved format?
  6. IHTM34033
    Service/Compliance procedures: Has form IHT 35 been completed correctly?
  7. IHTM34040
    Service/Compliance procedures: Checking the claim for relief (chart)
  8. IHTM34041
    Service/Compliance procedures: Are the shareholdings appropriate for including in the claim? (chart)
  9. IHTM34042
    Service/Compliance procedures: Initial check of the value of shares included in the claim (chart)
  10. IHTM34043
    Service/Compliance procedures: Checking form IHT 35
  11. IHTM34050
    Service/Compliance procedures: Are additional valuation checks required? (chart)
  12. IHTM34051
    Service/Compliance procedures: Mandatory referrals to FACET
  13. IHTM34052
    Service/Compliance procedures: Other referral to FACET
  14. IHTM34053
    Service/Compliance procedures: Summary of checks made in FACET
  15. IHTM34060
    Service/Compliance procedures: Agreeing the claim for relief (chart)
  16. IHTM34061
    Service/Compliance procedures: Raising enquiries on loss of sale of shares claim
  17. IHTM34062
    Service/Compliance procedures: Sale price unacceptable
  18. IHTM34070
    Service/Compliance procedures: Finalising the relief (chart)
  19. IHTM34071
    Service/Compliance procedures: What to do once the relief is agreed
  20. IHTM34072
    Service/Compliance procedures: Provisional relief
  21. IHTM34073
    Service/Compliance procedures: Finalising the relief
  22. IHTM34074
    Service/Compliance procedures: Notifying tax offices of revised values
  23. IHTM34080
    Service/Compliance procedures: Claiming relief for underwriting interests
  24. IHTM34081
    Service/Compliance procedures: Dealing with claims for relief on underwriting deposits
FACET procedures
  1. IHTM34090
    FACET procedures: Introduction
  2. IHTM34091
    FACET procedures: Why are forms IHT 35 sent to FACET?
  3. IHTM34092
    FACET procedures: Summary of checks made in FACET (chart)
  4. IHTM34093
    FACET procedures: Is the form IHT 35 appropriate for FACET to consider?
  5. IHTM34094
    FACET procedures: What checks should you make if a substantial loss has been claimed?
  6. IHTM34095
    FACET procedures: What you should do if one or more of the questions at 2 or 3 are answered 'Yes'
  7. IHTM34096
    FACET procedures: Non-mandatory referrals from caseworkers
  8. IHTM34097
    FACET procedures: Suspended or cancelled shares
  9. IHTM34098
    FACET procedures: Purchase of shares
  10. IHTM34099
    FACET procedures: Exchanges
  11. IHTM34100
    FACET procedures: Capital payments
  12. IHTM34101
    FACET procedures: Call
  13. IHTM34102
    FACET procedures: Changes in shareholdings
  14. IHTM34103
    FACET procedures: Bonus issues
  15. IHTM34104
    FACET procedures: Rights issues
  16. IHTM34105
    FACET procedures: Options
  17. IHTM34106
    FACET procedures: Limitations on loss on sale of shares relief
Qualifying investments
  1. IHTM34131
    Qualifying investments: What are qualifying investments?
  2. IHTM34132
    Qualifying investments: Non-qualifying investments
  3. IHTM34133
    Qualifying investments: Unlisted Securities Market (USM) shares
  4. IHTM34134
    Qualifying investments: Shares temporarily suspended at date of death
  5. IHTM34135
    Qualifying investments: Share option schemes
  6. IHTM34136
    Qualifying investments: Underwriting deposits
  7. IHTM34137
    Qualifying investments: Unadministered estates
  8. IHTM34138
    Qualifying investments: Reversionary interests
  9. IHTM34139
    Qualifying investments: Shares held by a partnership
  10. IHTM34140
    Qualifying investments: Foreign stock exchanges
  11. IHTM34141
    Qualifying investments: Open ended investment companies (OEIC)
  1. IHTM34151
    Sales: The basic condition
  2. IHTM34152
    Sales: Date of sale
  3. IHTM34153
    Sales: Appropriations
  4. IHTM34154
    Sales: Exchanges
  5. IHTM34155
    Sales: Unsaleable investments
  6. IHTM34156
    Sales: Suspension of shares
  7. IHTM34157
    Sales: Cancellation of shares
  8. IHTM34158
    Sales: Special treatment of shares in Northern Rock and Bradford & Bingley
Appropriate person
  1. IHTM34161
    Appropriate person: Basic condition
  2. IHTM34162
    Appropriate person: Separate claims by legal personal representatives and trustees
  3. IHTM34163
    Appropriate person: Death of legal personal representative or trustee
  4. IHTM34164
    Appropriate person: Personal Equity Plans (PEPs) and Individual Savings Accounts (ISAs)
Calculating the loss
  1. IHTM34171
    Calculating the loss: What is an 'overall loss'?
  2. IHTM34172
    Calculating the loss: How is the loss calculated?
  3. IHTM34173
    Calculating the loss: Value on death
  4. IHTM34174
    Calculating the loss: Interest on Government securities
  5. IHTM34175
    Calculating the loss: Call
  6. IHTM34176
    Calculating the loss: Sale value
  7. IHTM34177
    Calculating the loss: Capital payments
Changes in shareholdings
  1. IHTM34181
    Changes in shareholdings: Changes in the capitalisation of a company
  2. IHTM34182
    Changes in shareholdings: Date of death value for the whole of the new holding
  3. IHTM34183
    Changes in shareholdings: Date of death value for investments sold
  4. IHTM34184
    Changes in shareholdings: Investments forming part of a new holding
  5. IHTM34185
    Changes in shareholdings: Bonus issues
  6. IHTM34186
    Changes in shareholdings: Renounced bonus issues
  7. IHTM34187
    Changes in shareholdings: Rights issue
  8. IHTM34188
    Changes in shareholdings: Rights sold
  9. IHTM34189
    Changes in shareholdings: Rights taken up and sold
  10. IHTM34190
    Changes in shareholdings: Rights not taken up or sold
  11. IHTM34191
    Changes in shareholdings: Rights disposed of without consideration
  12. IHTM34192
    Changes in shareholdings: Part of rights sold, balance taken up as shares
  13. IHTM34193
    Changes in shareholdings: Acquisitions prior to sale
Restrictions on relief
  1. IHTM34211
    Restrictions on relief: Introduction
  2. IHTM34212
    Restrictions on relief: The restriction
  3. IHTM34213
    Restrictions on relief: Purchases by the 'appropriate' person
  4. IHTM34214
    Restrictions on relief: Purchases of 'qualifying investments'
  5. IHTM34215
    Restrictions on relief: Prior purchase of similar shares
  6. IHTM34220
    Restrictions on relief: Part of holding only in the deceased's estate
  7. IHTM34230
    Restrictions on relief: Loss on sale is greater than the original date of death value
Attribution of values to specific investments
  1. IHTM34241
    Attribution of values to specific investments: Summary
  2. IHTM34242
    Attribution of values to specific investments: Payment of 'call'
  3. IHTM34243
    Attribution of values to specific investments: Changes in the capitalisation of a company
  4. IHTM34244
    Attribution of values to specific investments: Purchases of qualifying investments
  5. IHTM34245
    Attribution of values to specific investments: Example of how values are revised under S.187(3)