IHT 100 submission

Does an IHT 100 need to be submitted on creation of an inter vivos discretionary trust even if there is no tax to pay?
The government website states “Use form IHT100 and supplementary pages D31 to D40 to tell HMRC about chargeable events when Inheritance Tax is payable on a trust or gift.”

Gary Taylor
Progressive Wills Ltd.

HMRC are simplifying somewhat as it can depend on the assets and reliefs are usually ignored.

See the Inheritance Tax (Delivery of Accounts) (Excepted Transfers and Excepted Terminations) Regulations 2008.

If the assets introduced are cash and/or quoted shares and the cumulative value is less than the NRB then you should be fine.

Andrew Goodman
Osborne Clarke LLP