Service/Compliance procedures: summary of checks made in FACET
When FACET receive a form IHT 35 on a mandatory referral (IHTM34051) they check
- the gross sale prices against the daily ‘Business Done’ range for share prices for the date of sale. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)
- the purchase prices given in part 2 of the IHT 35
- unit trust prices against the fixed prices given by the Stock Exchange for the date of sale
- that any rights, Cap or Bonus issues that have occurred between the date of death and date of sale have been taken into account
- where the answer to any of the questions on part 3 of the IHT 35 are ‘Yes’ that the gross proceeds of Calls, Cap issues, Bonus/Scrip issues are included.
See the sub-section on ‘FACET procedures’ (IHTM34090) for more detailed information about the work done in FACET.