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IHTM31012 | Assessing: calculation principles: assessment groups

From HM Revenue & Customs · Inheritance Tax Manual

The property within each Entry (IHTM31011) is divided into assessment groups. The three types are

  • NIOP non-instalment option property - this is essentially personal property, for example, household goods or bank accounts

  • IOP instalment option property - land and business interests, including unlisted shares

  • IOP(WIR) instalment option property, with interest relief - land and business assets that qualify for interest relief, which from 6 April 2026 will include value which is reduced by either Agricultural Relief (AR) or Business Relief (BR).

The payments section of this manual will advise you when instalments (IHTM30191) and interest relief (IHTM30363) may apply.

You can have more than one (IHTM31133) IOP or IOP (WIR) assessment group within an Entry. You can have numerous NIOP groups if you are using the manual calculation template, but only one per Entry on COMPASS (IHTM31101).