Form

How to fill in form IHT418

Updated 6 April 2025

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Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.

This publication is available at /government/publications/inheritance-tax-assets-held-in-trust-iht418/how-to-fill-in-form-iht418

When to use this form聽

You should only fill in this form if both of the following apply:聽

  • the deceased has the right to benefit from a trust聽

  • you바카라 사이트檙e acting as an executor or as both executor and trustee 聽

You must fill in separate form for each trust.听听

Before you start聽

Make sure you have read all the relevant notes before you start completing the form.바카라 사이트�바카라 사이트�

Some types of assets could be included in more than one section of the form, such as stocks and shares, so make sure you put them in the right section. Do not include the same asset in more than one section.바카라 사이트�바카라 사이트�

You do not need to send us copies of documents (for example, a letter from a bank with the balance in an account, or evidence of liabilities) unless we specifically ask you to do so.바카라 사이트�바카라 사이트�

You must keep all documents that you have used to fill in the form as we may ask you for some or all of them later. Find out about what records you need to keep.바카라 사이트�

Section A: about the trust听听

You must include the name and other details about the trust.听

Unique Taxpayer Reference听听

This is a 10-digit number. You바카라 사이트檒l be sent a UTR when you register for Income Tax or set up a limited company.바카라 사이트�

Find out how to find your UTR number.听听听

If the trust does not have a UTR leave box A3 blank.听

Section B: about the trustees聽

You should include the:聽

  • name and addresses for all trustees of the trust聽

  • name and contact details for the solicitor or agent acting for the trust聽

Section C: your capacity聽

There are different sections to complete if you바카라 사이트檙e acting solely as the:聽

  • executor or administrator of the estate 바카라 사이트�바카라 사이트痜ill in sections D and I聽

  • trustee of the trust 바카라 사이트� fill in sections E, F, G, H, I and the declaration听听

In some circumstances the trustees will pay tax at the same time that the estates legal personal representatives apply for a grant. This can happen if the trustees and the personal representatives are the same people.听听

If you바카라 사이트檙e acting as both as the executor or administrator of the estate and trustee of the trust, you should fill in sections E, F, G, H, I and the declaration.听听

Section D: acting solely as the executor or administrator of the estate聽

You should only complete this section if you바카라 사이트檙e both:聽

  • acting solely as the executor or administrator of the estate聽

  • aware of any assets that were held in the trust for the benefit of the deceased聽

You must send this completed form to HMRC with form IHT400 and any relevant schedules.

Deceased바카라 사이트檚 interest in possession聽

You must tell us if the deceased had any of the following interests. 听听

An interest in possession that started before 22 March 2006聽

An interest in possession trust is a trust that holds property for a person (or a company) who has a 바카라 사이트榬ight바카라 사이트� to the income or the enjoyment of the property held. Before 22 March 2006 this was known as a qualifying interest in possession (QIIP) trust.听听

After this date, a qualifying interest in possession trust can only form if it바카라 사이트檚 one of the following:聽

  • an immediate post-death interest聽

  • a disabled person바카라 사이트檚 interest聽

  • a transitional serial interest听听

Find more information about the types of interests in possession.听听

An immediate post-death interest聽

This forms when a beneficiary receives the benefit of an interest in possession trust. It바카라 사이트檚 created by a will or under intestacy rules. It does not qualify as a trust for a bereaved minor, or a disabled persons interest.听听

A disabled person바카라 사이트檚 interest听听

This is a trust for a disabled person that meets certain requirements about how income and capital of the trust may be used during their lifetime. It바카라 사이트檚 treated as a qualifying interest in possession and forms part of the beneficiary바카라 사이트檚 estate on their death.听听

A transitional series interest聽

This is an interest in possession trust that바카라 사이트檚 not a bereaved minors trust or a disabled person바카라 사이트檚 interest. It can form in 3 ways.听

The first is as an interest in possession trust that started between 22 March 2006 and 5 October 2008. It must follow a previous interest in possession trust that was in effect before 22 March 2006.听听

The second is as an interest in possession trust that passes to the beneficiaries spouse or civil partner after their death. This only applies to trusts that are passed on after 5 October 2008.听听听

The third is where the trust property is a life insurance policy and there바카라 사이트檚 an unbroken chain of interest in possessions ending on death.听

Purchased interest in possession聽

This is an interest in possession in a trust that was purchased by the beneficiary:聽

  • in an arm바카라 사이트檚 length transaction聽

  • on or after 9 December 2009聽

  • when the beneficiary was domiciled in the UK聽

Assets in the trust听听

You must include a description of the assets in the trust and their values. These assets qualify for payment of Inheritance Tax by instalments.听听

Other assets in the trust聽

You must include a description of all the other assets in the trust and their values. These assets do not qualify for payment of Inheritance Tax by instalments.听听

Future right to assets in the trust聽

The deceased may have been entitled to some assets in a trust but someone else is receiving the benefit from them during that person바카라 사이트檚 life. The deceased바카라 사이트檚 estate will not receive the assets until after the other person has died. This is known as a reversionary interest or an interest in expectancy.

If you바카라 사이트檝e answered 바카라 사이트榊es바카라 사이트� to question D4 or D5, you should include:聽

  • an estimate of the value of the assets at the date of death聽

  • the name and age of the person receiving the benefit听听

Do you complete this form if you바카라 사이트檝e answered 바카라 사이트楴o바카라 사이트� to questions D4 or D5 and did not put a cross in any of the boxes at D1.听听

Section E: acting either solely as the trustee or both the executor or administrator of the estate and the trustee of the trust聽

You should only complete this section if you바카라 사이트檙e acting as either:聽

  • solely the trustee听听

  • both the executor or administrator of the estate and the trustee听听

About the person who has now died聽

You must include details about the beneficiary of the trust who has now died.听听

If person바카라 사이트檚 death is on or after 6 April 2025, read聽Inheritance Tax if you바카라 사이트檙e a long-term UK resident.

Name and address of the person or business dealing with the event聽

You should include the name and personal details of the person dealing with the trust. This may be different to the to the details given in section B.听听

You should also include the details of the account you want any repayments paid into.听听

About the settlor

You should include the name and personal details of the person who made the trust (the settlor).

Ignore questions E24 and E25 if the settlor had not died before this event.

On or after 6 April 2025, Inheritance Tax is not due on foreign assets held in a trust if the beneficiary and settlor are not a long-term UK resident at the date of the event. These assets are known as 바카라 사이트榚xcluded property바카라 사이트�.听

There are exceptions to this for indirect interests in UK residential property.

Answer 바카라 사이트榊es바카라 사이트� to question E28 if Inheritance Tax is not due because of transitional provisions. That means non-UK assets will not be subject to charge when the qualifying interest in possession comes to an end or the beneficiary dies if both of the following apply. The assets:

  • are compromised in a qualifying interest in possession settlement immediately before 30 October 2024
  • were classed as excluded property immediately before 30 October 2024

If the settlor was not domiciled in the UK

Answer questions from E29 where the settlor or beneficiary died before 6 April 2025.

Check the guidance notes for D31 for help on the domicile and deemed domicile rules.

Section F: details of the schedule pages聽

You may need to fill in more sections, known as schedules, if you바카라 사이트檙e telling HMRC about any of the following.听

If stocks and shared are included听听

You should fill in schedule D32 if the assets include any stocks and shares.바카라 사이트�

If any debts are owed to the trust听听

You should complete schedule D33 if there was any money on loan from the trust. For example, a mortgage or personal that has not been repaid at the date of the chargeable event.听

If any insurance바카라 사이트痯olicies were involved바카라 사이트�

You should fill in schedule D34 if any insurance policies are included in the event.听

If household and personal goods are included听听聽

You should complete schedule D35 if the assets include any household and personal goods.听

If land and buildings are included听听

You should complete schedule D36 if the assets include land, buildings, trees, or underwood in the UK.听听听

If you바카라 사이트檙e claiming Agricultural Relief听听聽

You should fill in schedule D37 if you바카라 사이트檙e deducting Agricultural Relief.听

If you바카라 사이트檙e claiming Business Relief听听

You should fill in schedule D38 if you바카라 사이트檙e deducting Business Relief.听听听

If foreign assets바카라 사이트痑re included听听聽

You should fill in schedule D39 if any of the outside are outside of the UK.听

Section G: UK assets held in trust聽

You must fill in section G with details of all the assets that are apart of this trust.听听

You must value all assets as if each item had been sold on the date of the chargeable event. This is called the 바카라 사이트榦pen market value바카라 사이트�.听听听聽

Round the value of assets and liabilities down to the nearest 拢1. Tax should be shown to the nearest penny.听听听聽

Each box must show the total of each type of asset. For example, box G2 should show the total of all bank and building society accounts.听听听

Assets where tax can be paid by instalments听听

Assets included under column B can be paid in annual instalments over 10 years.听听听聽

Check which assets can be paid in instalments.听听听

You usually have to pay interest on instalments, but there are some assets which qualify or interest relief. These instalments are only interest-free if the instalment is paid before the due date.听听听听听

G1 Houses, buildings and land听听

You must include here all freehold, leasehold, heritable and other immovable property in the UK which is included in the transfer. Do not include farmhouses and farmland.听听听

If you have a professional valuation, attach a copy with this form. 听听聽

You will need to fill in schedule D36 giving details of each item of land.听听听

G2 Bank, building society and other financial accounts听听

You must include all accounts with a:听听

  • 产补苍办听听

  • building society听听

  • mutual, friendly or co-operative society听听聽

  • 蝉耻辫别谤尘补谤办别迟蝉听听

  • insurance company听听

List each account or investment separately in the 바카라 사이트楢dditional information바카라 사이트� section. If you have separate figures for capital and interest, show these separately.听听听聽

G3 Cash听听

This includes any cheques made out to the transferee.听听听

G4 Premium Bonds and National Savings and Investments (NS&I) products听听

List each account or investment separately in the 바카라 사이트楢dditional information바카라 사이트� section. If you have separate figures for capital and interest, show these separately.听听听

if you do not know the value at the date of transfer.听听听

G5 Household goods and personal goods听听

You should include all goods included in the transfer. For example, china, clothes, jewellery and cars. You also need to fill in schedule D35.听听听

G6 Life assurance, pensions and mortgage protection policies听听

Tell us about any pensions and policies in included in the transfer. If the transaction included a life assurance policy but they were not actually amongst the assets included in the chargeable event you바카라 사이트檙e telling us about, we need to know about the arrangements.听听听聽

You must fill in schedule D34 and include a copy of each policy when you send the form.听听听聽

G7 UK government and municipal securities听听聽

You should include:听听聽

  • Treasury Stock听听聽

  • Exchequer Stock听听聽

  • Convertible Stock听听聽

  • consolidated stocks and loans听听聽

  • Funding Stock听听聽

  • Savings Bonds听听聽

  • Victory Bonds听听聽

  • War Loans听听聽

  • government stock held on the Bank of England Register听听听听

  • bonds issued by municipal entities (local government authorities)听听聽

You should fill in schedule D32 to tell us about them.听听听

G8 Listed stocks, shares and investments听听聽

You should include:听听聽

  • all stocks, dares, debentures and securities listed in the Stock Exchange Daily Official List听听聽

  • unit trusts听听聽

  • investment trusts听听聽

  • open-ended investment companies听听聽

  • shares listed on a recognised stock exchange that are part of an Individual Savings Account (ISA)听听

  • foreign shares listed on the London Stock Exchange听听聽

Do not include listed shares that gave the deceased control of the company. You should include these in box G12.听听听聽

You must also fill in schedule D32. Copy the figure from box 2 on the schedule and enter it in box F8 on this form.听听听聽

G9 Dividends or interest on stocks, shares and securities听听

Use schedule D32 to complete this box. You should include the total value of dividends and interest on assets in boxes G7, G8, G10, G11 and G12 due at the date of transfer but which had not yet been paid.听听听聽

G10 Traded unlisted and unlisted shares except control holdings听听

If a company is not listed on the London Stock Exchange, any foreign recognised stock exchange or alternative market, its shares and securities are classed as unlisted.听听听

You should enter the total value of enter the total value of the following stocks and shares if the settlor did not have control of the company:听听聽

  • unlisted stocks and shares in private limited companies听听聽

  • shares traded on the Alternative Investment Market (AIM), including shares that are part of an ISA听听

  • shares held in an Enterprise Investment Scheme (EIS) or in a Business Start-up Scheme (BSS)听听

You must also include these when you fill in schedule D32.听听听聽

G11 Instalments on shares听听

You may be able to pay tax in instalments on unlisted shares that do not qualify for business relief if any of the following apply:

  • you can show that paying in one sum will cause financial hardship听听
  • at least 20% of the tax owed is on assets that qualify for payment by instalments바카라 사이트�
  • the shares are worth more than 拢20,000 and make up either:听听
    • at least 10% of the value of the total shares issued by the company听听
    • at least 10% of the value of ordinary shares held in the company

If you have tax to pay on non-control holdings of unlisted shares, and they qualify for payment by instalments, enter the value of the shares in box G11. You can find this value in boxes 3 and 4 in Schedule D32.

G12 Control holdings of unlisted, traded unlisted and listed shares听听

If the person who made the transfer had control of the company you should include:听听

  • shares traded on AIM including shares that are part of an ISA听听

  • shares traded on the Off Exchange (OFEX)

You must also fill in schedule D32, including the stocks and shares.听听听聽

G13 Farms, farmhouses and farmland听听

You should include the total value of assets on which you바카라 사이트檙e deducting agricultural relief.听听听聽

You must also fill in schedule D36, giving full details of assets if you want to claim relief on.听听听听听

G14 Businesses including farm businesses, business assets and timber听听

You should include the net value of an interest in a business at the date of the chargeable event.听听听

If the settlor took part in more than one business you may need to fill in schedule D38 for each business or partnership. Enter the total value of all the businesses in box G14.听 聽

G15 Other land, buildings and rights over land听听

You should include the value of any other land, buildings or rights over land not included in any other boxes on this form.听 This could include:听听

  • rental properties听听

  • lock-up garages听听

  • redundant land听听

  • derelict property听听

  • quarries听听

  • airfields听听

  • fishing or other rights attached to land听听

You must also fill in schedule D36 with details of the land or property.听听听

G16 Debts due to the Trust听听

You should enter the figure from box 3 when you fill in schedule D33.听 You should include money:听听

  • that had been lent and not repaid at the date of the transfer听听聽

  • that the transferor had lent to trustees of a trust linked to a life insurance policy held in trust听听聽

  • for which the transferor held a promissory note听听聽

  • for which the transferor held an 바카라 사이트業OU바카라 사이트� (director바카라 사이트檚 loan) account with a company听听

G17 Income Tax or Capital Gains Tax repayment听听

You should enter the total amount of any tax repaid to the trust. If you do not know the exact amount, you should enter a reasonable estimate.听听

G18 Other assets听听

You should enter the total value of any other assets not already included.听听听

You must include the details of these assets in the 바카라 사이트楢dditional information바카라 사이트� section.听

Section H: liabilities, exemptions and reliefs聽

You should only include debts that were owed by the trust at the date of the chargeable event.바카라 사이트�바카라 사이트�바카라 사이트�

Do not include:바카라 사이트�바카라 사이트�

  • fees for professional services carried out after the date of the event바카라 사이트�바카라 사이트�

  • any solicitor, estate agent or valuation fees incurred in dealing with the event聽

尝颈补产颈濒颈迟颈别蝉바카라 사이트赌�

For box H1, you should list all the debts owed by the transferor that can be deducted from the assets includes in section G, column A.听听听聽

You should fill in the name of the person or organisation that is owed the money and say briefly why the money is owed. If you include a deduction for solicitors바카라 사이트� or accountants바카라 사이트� fees, give the dates for the period during which the work was done.听听听

For box H2, you should only include reliefs and excluded property against assets listed in section G, column B.听听听

Exemptions and reliefs听听聽

There are a number of reliefs that reduce the value of the transfer on which you need to pay tax.听听听

You can find more guidance in section IHTM11000 of the Inheritance Tax Manual.听听听聽

To deduct reliefs against the assets listed at boxes G1 to G18 you should write the title of the relief and the amount that you want to deduct in the space provided.听听听

For box H3, only include reliefs against assets listed in section G, column A. Add together the reliefs and write in the total box.听听听

For box H4, only include reliefs and excluded property against assets listed in section G, column B.听听听聽

Section I: disclosure of tax avoidance scheme聽

You should include both the:听听聽

  • scheme or promotor reference number if you바카라 사이트檝e been given one听听聽

  • tax year or date when the tax advantage is expected听听听听

Find out about the rules for disclosure of tax avoidance schemes.听

顿别肠濒补谤补迟颈辞苍听

You must make sure that all trustees have read the declaration and agree that the information given on the form, any schedules and other supporting documents is correct.听听听

HMRC will accept IHT418 forms without a wet signature as long as the names and personal details of the trustees are shown on the declaration page.听听听

If you바카라 사이트檙e an agent听听

You must include this statement in the additional information on page 18:听听聽

바카라 사이트楢s the agent acting on their behalf, I confirm that all the people whose names appear on the declaration page of this form IHT418 have seen the IHT418 and agreed to be bound by the declaration on page 10 of the IHT18.바카라 사이트櫬�

If you바카라 사이트檙e a trustee听听

You must include this statement in the additional information on page 12:바카라 사이트�바카라 사이트�

바카라 사이트楢s trustee acting in this matter, I confirm that all the people whose names appear on the declaration page of this form IHT418 are the trustees and have both seen the IHT418 and agreed to be bound by the declaration on page 10 of the IHT418.바카라 사이트�

Sending us your completed form

You should send the form to the address given at the bottom of the form.

Make sure you include:

  • copies of any document we바카라 사이트檝e asked for
  • any completed schedules (read section F)

Find out what happens after you send us your completed form.

Get help

Contact the Inheritance Tax helpline聽if you need help completing the form.

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