This relates to a life interest trust. The life tenant died, resulting in an IHT event. The trust fund assets comprised of shares which were valued at the date of death, which subsequently fell in value when sold. The sale is within 12 months of the date of death. The trust fund is liable for IHT.
The estate is being dealt with separately, by the life tenant’s representatives.
Can form IHT 35, Claim for relief– loss on sale of shares be submitted on behalf of the trust?