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 the full document

To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Owner-Managed Businesses

Definition of a close company

Definition of a close companyThe detailed definition of a close company is set out below, but in summary the rules are targeted at those companies where the owners can manipulate the activities of the company to influence their own tax position. Therefore, broadly speaking, in most cases an

14 Jul 2020 11:24 | Produced by Tolley Read more

Owner-Managed Businesses

Tax implications of administration and liquidation

Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into

14 Jul 2020 15:29 | Produced by Tolley Read more

Employment Tax

Parking provision and expenses

Parking provision and expensesCar parking facilities at or near to the employee’s workplaceThere is an exemption from tax and NIC where an employer provides parking, or pays for or reimburses an employee for the costs associated with car parking at or near the place of work; there are no reporting

14 Jul 2020 11:09 | Produced by Tolley Read more

��Ӱ��