SVM108055 - Inheritance Tax: Chattels

The compliance spreadsheet will provide details of the deceased/transferor/donee, whether that be an individual, an estate or a trust.

The IHT caseworker should attach copies of any valuation or form IHT407 (or equivalent) highlighting any items that are to be considered in SAV.

Details of the chargeable event (death, transfer and so on), the valuation date, the aggregate chargeable transfer and the nil rate band will be provided.  This will allow the valuer to gauge tax at risk.  If it is clear that the chargeable value of the asset(s) is not such as to cause the taxable limit to be exceeded, the valuation may be concluded on that basis without agreeing a particular value and the compliance spreadsheet completed.

Additional Guidance: SVM150000