106 Part 3
The deceased person was a foreign domiciliary who lived permanently
abroad and died abroad and the value of their UK assets is under
Where all, or a substantial part of an estate, passes to exempt beneciaries,
HMRC may accept a reduced account from the personal representatives.
The completion of the return form IHT400 is done on the principle of self-
assessment, which means that the executors or administrators must assess
the value of the estate, net of any liabilities, and then disclose this on the
form to the best of their knowledge. They then calculate any IHT payable.
The following pages tell you more about the account. They provide guidance
on how you should deal with the information in each part of the account
or tell you where you can nd this information in other parts of this book.
Completing form IHT400
Form IHT400 consists of 16 pages and is shown in Figure 12.1 on page 108.
It covers the following:
Personal details of the person that has died.
Details of the persons acting as personal representatives and dealing
with the estate.
Details of the will, if one was left.
Details of the assets and liabilities of the deceased.
Claims for any exemptions or reliefs.
Details of any additional schedules that are enclosed with the return.
The basic 16-page return would apply to most estates. However, each
estate is different and will consist of different assets, liabilities, claims, etc.
Therefore, any additional information is reported to HMRC on a supporting
schedule that would be enclosed with the main tax return. Only the sup-
porting schedules that are relevant to the person that has died will require
completion and submission with the tax return form IHT400. A list of these
is given in Table 12.1.
There is further advice and guidance to help the personal representatives
complete the return form IHT400 on the HMRC website at: