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HMRC internal manual

Inheritance Tax Manual

FACET procedures: options

If the ‘appropriate person’ (IHTM34161) acquired orexercised an option to buy or sell ‘qualifying investments’ (IHTM34131), question 3(e) on page 4 of form IHT 35 should beticked ‘Yes’. Additional information about the changes in holding should beincluded with the IHT 35.

You should check the information on the form IHT35 with Extel and refer the IHT 35 to TG (IHTM01081) to advise on the loss.