Iht 400 form help

V2001

I think this is best place to ask question so I post here.
Hi I'm filling a form for a freind iht400. Box 30 asks did the deceased make any lifetime gifts on or after 18 March 1986, if yes fill form 403. Are we expected to list all lifetime gifts after 1986??

The deceased did make a lifetime gift but it was well over 7 years ago , 11 years to be exact. The lifetime gift was property. So does form iht 403 still need to be filled? 
Also there was no gift with reservation on the lifetime gift.

So do I tick yes or no on box 30 in iht400 for lifetime gifts after 1986? 
I'm just bit puzzled as do what we would write here.

SeniorSam

If lifetime gifts were over 7 years ago or were within the normal gifting allowances, then the answer to the question is NONE. The fat that you are completing IHT400 indicates that the assets inheritance tax will be payable.

V2001

So just to be correct in box 30 on iht 400 i just write No, that no lifetime gifts were made after 86

Keep_pedalling

V2001 said:

So just to be correct in box 30 on iht 400 i just write No, that no lifetime gifts were made after 86

Yes,  providing that after giving away the property he did not continue to benefit from it by living in it or receiving rent from it.

V2001

Cheers guys for reply. The freind who I'm assisting the form for asked a accountant and he said the following so getting conflicting messages, after what was said here:

He said the answer is "Yes" as "gifts" were made on or after 18.3.86; whether PETs or CLTs is irrelevant. Therefore IHT403 needs completing primarily boxes 8 to 12 even if no gifts were made within 7 years of death.
HMRC are interested to identify whether (not in your opinion) a post 17.3.86 lifetime gift was made which under the IHT legislation was a GWR.


Now I'm just wondering if the guys that posted their comments earlier had no issues writing NO even when lifetime gifts were made after the 7 year time period had lapsed?

Thanks. Just trying to get this right