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Article summary

HMRC has published detailed guidance explaining how to fill in form IHT100 to inform HMRC about chargeable events when inheritance tax (IHT) is payable on a trust or gift. The guidance provides: step-by-step instructions explaining how to complete each section of form IHT100; information on when to use form IHT100; which values should be included when valuing assets, and the steps to take once all forms have been completed. There is also an important note signposting to the changes made in 2006 to the way IHT is charged which mainly affected the taxation of trusts and alternatively secured pension funds.