IHT400 Notes : Guide to completing your Inheritance Tax account

IHT400 Notes
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Guide to completing your Inheritance Tax account
You can find out the value of all National Savings investments by sending
off form NSA 904. You can get this form from the Post Office®. If the reply
gives separate figures for capital and for interest owed, but not paid, up to
the date of death, please add them together on Schedule IHT406.
Household and personal goods
Enter in box 55 the total value of all household goods and personal
possessions which have been listed on Schedule IHT407 Household and
personal goods and copy the figure from box 6 on that schedule into
box 55 on form IHT400.
Pensions
Enter in box 56 the total of the figures in boxes 7 and 15 of
Schedule IHT409 Pensions, plus the value of any pension arrears due to the
deceased from the last monthly payments to the date of death.
Life assurance and mortgage protection policies
Enter in box 57 the total amount payable:
• from life assurance policies, including bonuses
• under mortgage protection policies (you can find out more about joint
mortgage protection policies on page 24 of this guide)
• under unit-linked investment schemes that pay 101% of the unit value
on death
• under investment or re-investment plans, bonds or contracts with a
financial services provider that pay out on death
• for the value of the deceased’s interest in joint life insurance policies
under which the deceased was one of the lives insured, but that remain
in force after the death
• for the value of insurance policies on the life of another person but
under which the deceased was to benefit
• from insurance policies that are part of an Individual Savings Account
• under private medical insurance to cover hospital or other health
charges incurred before death.
Fill in Schedule IHT410 Life assurance and annuities to give details of each
insurance policy.
UK Government and municipal securities
Enter in box 62 the total value for:
• Treasury Stock, Exchequer Stock, Convertible Stock, Consolidated Stock
and Loan, Funding Stock, Savings Bonds, Victory Bonds, War Loans
• Government Stock held on the Bank of England Register (previously held
on the National Savings Register)
• cities or towns, dock, harbour and water boards, Port of London Authority,
Agricultural Mortgage Corporation, Northern Ireland municipal stock.
Fill in Schedule IHT411 Listed stocks and shares to give details of each
investment. Copy the figure from box 1 of that schedule to box 62 on
form IHT400.
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