IHTM10811 - Transfers on death: general rule

»Ê¹ÚÌåÓýapp general rule is that the personal representatives (IHTM05012) are accountable. »Ê¹ÚÌåÓýappy have to complete and return an IHT400 for the deceased’s estate. »Ê¹ÚÌåÓýapp only exception to this rule is where the estate is an ‘excepted estateâ€� (IHTM06011).

»Ê¹ÚÌåÓýapp time limit for delivering the account is

  • twelve months from the end of the month in which the death occurs, or
  • if later, three months from the date when the personal representatives first acted in that capacity.

Penalties (IHTM36021) may be chargeable if the time limits are not met.

»Ê¹ÚÌåÓýappre are special rules covering

  • what property (IHTM10812) needs to be included in the account
  • the provision of estimated values (IHTM10813), and
  • what happens when the personal representatives do not obtain a grant within the normal time limits (IHTM10814).