IHT 400 - which box does this go in?

Savvy_Sue

I am joint executor of my late mother's will. We need to do the IHT 400, and my co-executor is dealing with the valuation of the shares, for which I am hugely grateful, but we're not sure where to put these:

"Axa Framlington units were Axa Framlington Equity Fund R INC and Axa Framlington UK Growth Fund R INC. I think they were unit trusts, may have become OEICs."

The options seem to be

62 UK Government and municipal securities (form IHT411, box 1), but include dividends and interest at box 64

63 Listed stocks, shares and investments that did not give the deceased control of the company (form IHT411, box 2)

64 Dividends or interest on stocks, shares and securities

65 Traded unlisted and unlisted shares except control holdings (form IHT412, box 1 and box 2)

66 Traded unlisted and unlisted shares except control holdings (see IHT412 Notes Paying tax by instalments)

67 Control holdings of unlisted, traded unlisted and listed shares (form IHT412, box 3, box 4 and box 5)

Any clues gratefully received ...

cte1111

63 I would think

Crabapple

Agree on 63. They definitely aren't control holdings or government securities. I would assume that they are listed.

You'd then need to state exactly what they are on the supporting schedule (406 for shares?) so if HMRC weren't happy with where they are declared they could query it. At the end of the day though the important part is to declare the value for tax calculations.

The IHT helpline might be the way to go if you want a definitive answer.

antrobus

Savvy_Sue wrote: »

....Any clues gratefully received ...

Another vote for putting the value of unit trusts/OEICs in box 63. Especially since that's what HMRC tell you to do.:)
http://www.hmrc.gov.uk/inheritancetax/iht400-notes.pdf