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The personal representatives of a deceased person and every person who is liable as transferor, including a trustee, must deliver to HMRC an account specifying to the best of their knowledge and belief all relevant property and the value of that property¹ (see I11.212). However, an account is not required, except in the case of an account to be delivered by personal representatives, if a full and proper account of that property, specifying its value, has already been delivered to HMRC by some other person who is or would be liable for the IHT on the property (unless that other person is or would be liable with the personal representatives jointly as trustee)².

For valuation purposes HMRC may inspect any property, and property on those premises, provided that such a valuation is reasonably required for the purposes of checking any person's position for IHT. Inspection must be carried out at a time agreed by the relevant person (ie the occupier, or, if they are not identified or the property is vacant, a person who controls