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The forms

If value is transferred by a chargeable event then an ‘IHT account’ will need to be submitted to HMRC by the transferor. An ‘IHT account’ means the completion of a set of IHT forms. On a death, these will be IHT400 forms completed by the personal representatives ― see the IHT returns guidance note. For other events chargeable to IHT these will be IHT100 forms. HMRC provides a list of these other chargeable events on its website. The most common of these events will be reporting a chargeable lifetime transfer by an individual, exit charges from trusts and 10–year charges on trusts.

If IHT is due then IHT100 forms will be required. If no IHT is due then the forms may not be required, depending on the values involved.

Forms will not be required for trust events if the settlement is an excepted settlement or the transfer is an excepted transfer or an excepted termination. This will broadly be the case for a 10-year or exit charge if the settlor was