Service/Compliance procedures: other referrals to FACET
You may exceptionally want to refer a form IHT 35 to FACET, even if a mandatory referral (IHTM34051) is not required. This may be if you have reason to suspect that any or all of the values that were included in the IHT 35 need further checking. For example, you may wish to do this if the information you have suggests that the values are estimated or otherwise doubtful. Alternatively you may want FACET to confirm that the share being sold is a ‘qualifying investment’ (IHTM34131).
Other situations where you may wish to refer a form IHT 35 to FACET are where you wish to check that a nil or £1 sale value can be accepted in respect of suspended (IHTM34156) or cancelled (IHTM34157) shares.
You should make it clear what checks you want made on a form 516. You might ask FACET to carry out the checks (IHTM34051) that they make when a case is sent to them on a mandatory referral or, exceptionally, to check all sale prices.