IHT100 completion ― overview (August 2024 onwards)

Produced by a Tolley Trusts and Inheritance Tax expert

Trusts and Inheritance Tax

Guidance

This guidance note provides a detailed explanation of how to complete the new IHT100 suite of forms introduced in August 2024. The old forms will be accepted by HMRC until 31 December 2024 ― see the IHT100 completion ― overview (before August 2024) guidance note for further details. After this date you must use the new suite of forms explained below.

The forms

If value is transferred by a chargeable event then an ‘IHT account’ will need to be submitted to HMRC by the transferor. An ‘IHT account’ means the completion of a set of IHT forms. On a death, these will be IHT400 forms completed by the personal representatives ― see the IHT returns guidance note. For other events chargeable to IHT these will be IHT100 forms. HMRC provides a list of these other chargeable events on its website. The most common of these events will be reporting a chargeable lifetime transfer by an individual, exit charges from trusts and 10-year charges on trusts.

If IHT is due then an IHT100

Continue reading

To read the full Guidance note, register for a free trial of Tolley+™

TAKE A FREE TRIAL

Popular Articles

Employment Tax

Loans provided to employees

Loans provided to employeesEmployers sometimes provide their employees with loans, sometimes charging interest and often not, either as part of the reward package or to help the individual meet significant expenditure. For example, it is common to provide loans for the purchase of annual travel

14 Jul 2020 12:11 | Produced by Tolley Read more

Employment Tax

Incentives, awards and prizes

Incentives, awards and prizesIntroduction ― incentives, awards and prizesEmployers may use a variety of methods to reward and encourage employees in their work. These are commonly known as incentives, awards or prizes. For the purposes of this note, the term ‘award’ will be used to cover all

14 Jul 2020 11:57 | Produced by Tolley Read more

Corporation Tax

Taxation of loan relationships

Taxation of loan relationshipsThe vast majority of companies will have loan relationships and so will need to consider how they are taxed under the loan relationship rules. There are also specific provisions dealing with relevant non-lending relationships and other deemed loan relationships.

14 Jul 2020 13:48 | Produced by Tolley Read more

��Ƶ