IHT400 Notes : Guide to completing your Inheritance Tax account

Deductions from
the estate
incurred up
to the date
of death,
pages 8 and 9
IHT400 Notes
76
80
81
Guide to completing your Inheritance Tax account
Other assets and income due to the deceased
Enter in box 76 the total value of any other assets not listed in boxes 49
to 75 or income due to the deceased not paid at the date of death. Include
here the gross amount of any rent from let property that was due to the
deceased. Include the property itself separately on Schedule IHT405
Houses, land, buildings and interests in land.
Other assets and income
Enter the total amount of:
• money owed in salary, wages or director’s fees
• benefits (other than arrears of pension) due but unclaimed from the
Department for Work and Pensions (include arrears of pension in
box 56)
• any refunds from gas, electricity or water suppliers
• any insurance premium or licence refunds
• lump sums payable to the estate from an annuity, pension scheme
or policy
• money due to the deceased from the sale of real and leasehold property
where the contract for sale had been exchanged before the death but
the sale had not been completed by the time the deceased died
• any other assets not included elsewhere.
Mortgages and secured loans
Include in this box any money that was secured by a mortgage on the
buildings or land shown on pages 6 and 7. If the same mortgage was
secured on property in two or more of boxes 49 to 71, and at the same
time an exemption or relief is due, that mortgage will have to be
apportioned between the properties. Also, in the rare instance where there
is only one property within the categories described by boxes 49 to 71, but
part of that property is used wholly or mainly for business purposes and
part is not, then the mortgage should normally be apportioned between
the part of the property used for the business and the part that is not.
If the deceased had a mortgage protection policy, include the mortgage in
box 80 and include the money due to the estate from the policy in
box 57.
Funeral expenses
You may deduct funeral costs and reasonable mourning expenses. You may
also deduct the cost of a headstone or tombstone marking the site of the
deceased’s grave.
These expenses may also include a reasonable amount to cover the cost of:
• flowers
• refreshments provided for the mourners after the service
• necessary expenses incurred by the executor or administrator in
arranging the funeral.
Use the space provided to give details of other costs that are
being deducted.
49