IHT411 AIM Inheritor plans (BR)

Jasminecat_7

I would please like some help with reporting two AIM IHT plans, (if I have to) set up for my mum in 2014, she has since passed in June of this year. I am aware that these should now fall outside of the Estate after 2 years under 'business relief'. Should these investments still be listed in the 411 for IHT consideration? If not should they be shown anywhere on any of the IHT forms? Thank you

probate_slave

Assuming you have to complete an IHT400 for your mother's estate, it's not IHT411 but IHT412 where you would declare the AIM funds. And that's where you can claim BR for them.

They don't in fact "fall outside the estate" but are included in the value of the gross estate, albeit with 100% relief from IHT (until next April).

Not every AIM shareholding qualifies for BR, which is why HMRC ask for a list of companies on page 2 of IHT412. The fund manager should give you a schedule of investments at date of death, including any ex-dividends, which you can include as an attachment. Since there will have been churning within the fund, it's not obvious that every company will have been held for two years, and you may find that some holdings don't pass the 2-year test unless replacement relief can be claimed for them.

Jasminecat_7

Brilliant, thank you for the reply. I'll look at the IHT 412 and ask for a schedule from mums advisor.