Is an IHT400 required

Trusts Discussion
1

I have an estate that is spouse exempt.

it has transpired that in the last 3 years prior to death, the deceased created 3 trusts with her financial advisor. These comprise of a mixture of DGT’s and loan trusts. The gifted amount is less than £250,000.

There is no GWRB.

I am querying whether I need to compete an IHT400 given the following extract from the government’s website.

"If the estate includes trusts

You’ll need to send full details of the estate’s assets and debts if the person who died:

  • gave gifts that were paid into trusts
  • held assets worth over £250,000 in trust
  • held more than one trust"

thanks

2

If you want clarity, I’d suggest going direct to the source:

The Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2004

which for some reason hasn’t been updated at all on legislation.gov.uk so you will need to find a current version from a book or online service.