IHTM10011 - IHT accounts: introduction

There are 3 basic accounts for Inheritance Tax. They are

• IHT400(IHTM10021) - which is completed when someone dies,
• IHT100 (IHTM10650) - which may need to be completed when lifetime transfers are made or when an interest in settled property comes to an end,
• Corrective account (C4) (IHTM10701) - which may need to be completed when the taxpayers wish to make changes to the information originally included on an IHT400 or IHT100. The Corrective Inventory (C4) (IHTM10751) doubles as a corrective account in Scotland.

In addition, there is an IHT205, which is completed when an estate is an excepted estate (IHTM06012 and IHTM06013) and the death occurred before 1 January 2022. For deaths on or after 1 January 2022, if the estate is an excepted estate, personal representatives are not required to complete an HMRC form in most cases and only need to complete the Probate or Confirmation application forms.

Before October 2003 there was an old version of the IHT100, which needed to be completed for lifetime transfers and interests in settled property, and a form IHT101, which needed to be completed when there was a chargeable event in respect of a non-interest in possession settlement.