IHTM26128 - Step 4 - grossing up: initial procedure for grossing up
Before starting the grossing calculation, you should make a note of the figures and values you will need. These are
- the lifetime cumulative total (IHTM31413)
- the total value transferred (IHTM04028) at the title where grossing up is required
-
the value (as reduced under interaction (IHTM26101) provisions if appropriate) of the specific gifts (IHTM26011) at that title in three separate groups
- the value of the exempt gifts
- the value of the chargeable specific gifts which do not bear their own tax
- the value of the chargeable specific gifts which bear their own tax
- the proportion of the residue that is exempt
After you have this information you should decide which type (IHTM26131) of grossing calculation to use.