HMRC has provided an update on recent developments relevant to trusts and estates, including the following: 

• the IHT100 suite of forms has been updated and streamlined (see below);
• form IHT400 has been updated to improve the process for probate applications in England and Wales. The unique code can now be received by email if the person gives their email address and signs a disclaimer; and
• form P1000 has been published on gov.uk. The form allows personal representatives of a deceased person’s estate to engage with HMRC, and to provide their contact details.  

Updated IHT forms 

Previously, taxpayers were required to submit form IHT100, an additional event form, and supplementary schedules to notify HMRC about each chargeable event when IHT is payable on a trust or gift.  

Taxpayers are now required to complete and submit a specific IHT100 form depending on the chargeable event, and the relevant supplementary schedules. The new forms can be downloaded from gov.uk. HMRC will continue to accept the old forms until 31 December 2024. 

The newsletter makes the following points about the new forms: 

• the new form IHT100b(death) allows the trustees to notify HMRC about a person’s interest in a qualifying interest in possession trust that has come to an end on their death;
• IHT418 remains a dual-purpose form to be used by the executors, or the executors who are also trustees, to notify HMRC about the coming to an end on death of a person’s interest in a qualifying interest in possession trust; and
• where the chargeable event involves notifying HMRC about the ending of a qualifying interest in possession in settled property and there were assets outside the UK, revised form IHT100b as well as schedule D39 should be completed.