Termination of Life Interest Trust - IHT100?

Trusts Discussion
1

I have a trust where the life tenant has recently died. It is a small trust and the aggregated values of the two estates well below the tax threshold. No lifetime gifts to consider either.

Are there any circumstances where Trustees are not required to file an IHT100 in cases where there is no IHT to pay?

The reason I ask is that it has taken HMRC the best part of a year to confirm they are happy there is no IHT to pay in recent / similar cases.

Justin Wallace
Brewer Harding & Rowe

2

Have a look at IHTM06100 Excepted transfers and terminations. My understanding is that unless the personal representatives need to submit an IHT 400, there is no requirement for the trustees to submit an IHT 100. If the PR’s are only submitting an IHT 205, this would be because the value of the trust is less than £150,000.

Patrick Moroney
BWL