EFIS 61, November 2008 : Inheritance Tax / Inland Revenue

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As part of its rebranding exercise, Her Majesty's Revenue and Customs (HMRC) has redesigned and renumbered IHT200 and replaced this main form and its Supplementary Sheets with IHT400 and new �Schedules� which are numbered IHT401-IHT423.

Probate practitioners will note that the assets of an individual�s estate are listed in two separate columns; column A caters for non-instalment option property and column B for instalment option property.

HMRC has devised new Schedules for bank and building society accounts, transfers of unused nil rate bond and conditional exemption from paying Inheritance Tax. Questions concerning a will are now included on IHT400.

IHT400 and IHT401-IHT423 should be used from 17th November although HMRC will continue to accept IHT200 until 16th March 2009.

HMRC has also made consequential amendments to IHTC1, IHTC5(2006), IHTC5(OUK)(2006), IHTC5(SE)(2006), IHT205(2006) and IHT207(2006) to reflect these changes.

All forms can be used immediately

Forms affected

IHT205(2006)	Return of estate information	New/Amended
IHT207(2006)	Return of estate information (where deceased domiciled abroad)	New/Amended
IHTC5(OUK)(2006)	Return of estate information where deceased was domiciled abroad	New/Amended
IHTC5(SE)(2006)	Information about Small Estates	New/Amended
IHTC5(2006)	Return of estate information	New/Amended
IHT400	Inheritance Tax account	New/Amended
IHT401	Domicile outside the United Kingdom	New/Amended
IHT403	Gifts and other transfers of value	New/Amended
IHT404	Jointly owned assets	New/Amended
IHT409	Pensions	New/Amended
IHT411	Stocks and shares	New/Amended
IHT407	Household and personal goods	New/Amended
IHT415	Interest in another estate	New/Amended
IHT416	Debts due to the estate	New/Amended
IHT419	Debts owed by the deceased	New/Amended
IHT410	Life assurance and annuities	New/Amended
IHT405	Houses, land, buildings and interests in land	New/Amended
IHT414	Agricultural relief	New/Amended
IHT413	Business relief, business or partnership interests	New/Amended
IHT417	Foreign assets	New/Amended
IHT420	National Heritage assets, conditional exemption and offers in lieu of tax	New/Amended
IHT422	Application for an Inheritance Tax reference	New/Amended
IHT421	Probate summary	New/Amended
IHT423	Direct payment scheme, bank or building society account	New/Amended
IHT408	Household and personal goods given to charity	New/Amended
IHT402	Claim to transfer unused Inheritance Tax nil rate band	New/Amended
IHT406	Bank and building society accounts	New/Amended
IHT418	Assets held in trust	New/Amended
IHT400C	Inheritance Tax account - Calculation	New/Amended
IHT412	Unlisted stocks and shares, and control holdings	New/Amended
IHTC1	Inventory Form - Confirmation	New/Amended

Crown copyright forms are reproduced with the permission of the Controller of the Stationery Office. Law Society forms are reproduced with the permission of the Law Society. Legal Aid Forms are produced with the permission of the LSC.