IHT400 Notes : Guide to completing your Inheritance Tax account

46
IHT400 Notes
63
64
65
66
67
Guide to completing your Inheritance Tax account
Listed stocks, shares and investments
Enter in box 63 the total value for:
• all stocks, shares, debentures and other securities listed in the
Stock Exchange Daily Official List
• unit trusts
• investment trusts
• Open-ended Investment Companies
• Personal Equity Plans (PEPs)
• shares that are part of an Individual Savings Account (ISA)
• foreign shares that are listed on the London Stock Exchange.
Do not include listed shares that gave the deceased control of the
company. Include those at box 67 instead.
There is guidance about how to value stocks and shares on page 65 of
this guide.
You will also need to fill in Schedule IHT411 Listed stocks and shares listing
all the deceased’s stocks, shares and investments. Copy the figure from
box 2 of that schedule to box 63 on form IHT400.
Dividends or interest on stocks, shares and securities
Enter in box 64 the total value of dividends and interest on assets in
boxes 62, 63, 65, 66 and 67 due at the date of death but which had not yet
been paid.
Traded unlisted and unlisted shares except control holdings
Where a company is not listed on the London Stock Exchange, any foreign
recognised stock exchange or alternative market, its shares and securities
are classified as unlisted.
Enter in box 65 the total value of:
• unlisted stocks and shares in private limited companies
• shares held in a Business Expansion Scheme (BES) or in a
Business Start-up Scheme (BSS)
on which the deceased did not have control of the company.
Include the stocks and shares on IHT412 Unlisted stocks and shares, and
control holdings.
Instalments on shares
You may pay the tax on some traded unlisted and unlisted shares by
instalments but this will be very rare. See the notes on Schedule IHT412
about paying tax by instalments.
Control holdings of unlisted, traded unlisted and listed shares
Include in this box the total value for:
• shares listed on the Alternative Investment Market (AIM)
• shares traded on OFEX
on which the deceased had control of the company.
Include the stocks and shares on Schedule IHT412 Unlisted stocks and
shares, and control holdings.