IHT400 Calculation
IHT400 Calculation

The following Wills & Probate guidance note provides comprehensive and up to date legal information covering:

  • IHT400 Calculation
  • IHT400
  • IHT400 Calculation
  • Claiming exemptions
  • IHT422
  • Payment
  • Submitting the IHT400

The inheritance tax (IHT) may be calculated:

  1. on page 11 of IHT400, if appropriate or

  2. by following the working sheet on 'IHT400 Calculation'

IHT is initially paid in accordance with that assessment.

The IHT400 must be referred to HMRC for assessment of the tax payable:

  1. when the grant is required only for settled land

  2. when payment of the IHT is to be made from the deceased's National Savings & Investments products or British Government Stock. Apply by a letter accompanying the IHT form together with official confirmation of the value of the relevant holdings

  3. where conditional exemption is claimed or an offer in lieu is made

IHT400

The IHT calculation can be made on IHT400 page 11, boxes 111–117, where the following conditions apply:

  1. the tax due is being paid within six months of the end of the month of death so that no interest is due

  2. no tax is being paid in instalments

  3. the total of lifetime gifts is within the nil rate band

  4. there is no double tax relief on any foreign assets

  5. there is no quick succession relief

IHT400 Calculation

Where the conditions to complete IHT400 page 11 are not fulfilled, use 'IHT400 Calculation' to calculate the tax payable.

Add the nil rate band (NRB) at the date of death to any transferable NRB to find the value of