»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp accountability depends on whether the gift is treated as a potentially exempt transfer (PET) (IHTM04057), and an IHT100a should be completed; or as part of the death estate, when an IHT403 should be completed.

»Ê¹ÚÌåÓýapp time limit for delivering the account is 12 months from the end of the month in which the transferor’s death occurs. »Ê¹ÚÌåÓýappre is no obligation to account for exempt transfers.

Treated as PET

»Ê¹ÚÌåÓýapp transferee is normally accountable, IHTA84/S216 (1)(bb).

Treated as part of the death estate

»Ê¹ÚÌåÓýapp legislation does not make transferees expressly accountable but they will normally be accountable under IHTA84/S216 (1)(bc).

For deaths on or after 9 March 1999, the deceased’s personal representatives (IHTM05012) must include full details of any gifts made by the deceased within 7 years of death with the IHT 400, FA99/S105 (1). You should approach the transferees if a formal account IHT100a is required.