Skip to content
Solved
SearchBrowse
Sign in

Contents

Official guidance
Inheritance Tax Manual

IHTM44000 · Pre-owned Assets

  • IHTM44001 · Introduction
  • IHTM44002 · Valuation
  • IHTM44003 · Property in charge: land
  • IHTM44004 · Property in charge: the disposal condition - land
  • IHTM44005 · Property in charge: the contribution condition - land
  • IHTM44006 · Property in charge: chattels
  • IHTM44007 · Property in charge: the disposal condition - chattels
  • IHTM44008 · Property in charge: the contribution condition - chattels
  • IHTM44009 · Property in charge: intangible property
  • IHTM44010 · Calculation of the charge: introduction
  • IHTM44011 · Calculation of the charge on land: valuation date and the 5 year cycle
  • IHTM44012 · Calculation of the charge on land: where the relevant land is disposed of
  • IHTM44013 · Calculation of the charge on land: where the chargeable person disposed of other property
  • IHTM44014 · Calculation of the charge on land: where the chargeable person contributed to the acquisition of the relevant property
  • IHTM44015 · Calculation of the charge on land: non-exempt sales
  • IHTM44016 · Calculation of the charge on chattels: introduction
  • IHTM44017 · Calculation of the charge on chattels: valuation date and the 5 year cycle
  • IHTM44018 · Calculation of the charge on chattels: where the chattels are disposed of
  • IHTM44019 · Calculation of the charge on chattels: where the chargeable person disposed of other property
  • IHTM44020 · Calculation of the charge on chattels: where the chargeable person contributed to the acquisition of the relevant property
  • IHTM44021 · Calculation of the charge on chattels: non-exempt sales
  • IHTM44025 · Calculation of the charge on intangibles: introduction
  • IHTM44026 · Calculation of the charge on intangibles: valuation date
  • IHTM44030 · Excluded transactions: introduction
  • IHTM44031 · Excluded transactions: the disposal condition - sale of entire interest
  • IHTM44032 · Excluded transactions: the disposal condition - transfer to spouse or civil partner
  • IHTM44033 · Excluded transactions: the disposal condition - family maintenance
  • IHTM44034 · Excluded transactions: the disposal condition - annual and small gifts exemption
  • IHTM44035 · Excluded transactions: the contribution condition - transfer to spouse or civil partner
  • IHTM44036 · Excluded transactions: the contribution condition - outright gift of money
  • IHTM44037 · Excluded transactions: the contribution condition - family maintenance
  • IHTM44038 · Excluded transactions: the contribution condition - annual and small gifts exemption
  • IHTM44040 · Exemptions: introduction
  • IHTM44041 · Exemptions: relevant property remains part of the Inheritance Tax estate
  • IHTM44042 · Exemptions: examples where relevant property remains part of the Inheritance Tax estate
  • IHTM44043 · Exemptions: property in a person’s estate that derives its value from the relevant property
  • IHTM44044 · Exemptions: reservation of benefit in the relevant property
  • IHTM44045 · Exemptions: reservation of benefit in property that derives its value from the relevant property
  • IHTM44046 · Exemptions: reservation of benefit in property but for certain exemptions
  • IHTM44047 · Exemptions: reservation of benefit in share of interest in land
  • IHTM44048 · Exemptions: exclusion of reservation of benefit under FA86/Sch20/Para6
  • IHTM44049 · Exemptions: cash gifts and exclusion of reservation of benefit provisions
  • IHTM44050 · Exemptions: relevant property remains part of the Inheritance Tax estate: restriction for subsequent ownership
  • IHTM44051 · Exemptions: relevant property remains part of the Inheritance Tax estate: excluded liabilities
  • IHTM44052 · Exemptions: foreign element
  • IHTM44053 · Exemptions: foreign element - non-residence
  • IHTM44054 · Exemptions: foreign element - long-term UK resident
  • IHTM44055 · Exemptions: foreign element - excluded property prior to 6 April 2025
  • IHTM44056 · Exemptions: de minimis exemption
  • IHTM44057 · Exemptions: changes in the distribution of a deceased’s estate
  • IHTM44058 · Exemptions: guarantees
  • IHTM44059 · Exemptions: sale of part share
  • IHTM44060 · Avoidance of double charges: introduction
  • IHTM44061 · Avoidance of double charges: more than one charge under FA04/Sch15
  • IHTM44062 · Avoidance of double charges: charge to employment benefits
  • IHTM44063 · Avoidance of double charges: election that reservation of benefit provisions should apply
  • IHTM44064 · Avoidance of double charges: debt written off or released
  • IHTM44070 · Election into Inheritance Tax: introduction
  • IHTM44071 · Election into Inheritance Tax: land & chattels
  • IHTM44072 · Election into Inheritance Tax: land & chattels - chargeable portion
  • IHTM44073 · Election into Inheritance Tax: intangibles
  • IHTM44074 · Election into Inheritance Tax: how to make an election
  • IHTM44075 · Election into Inheritance Tax: when to make an election
  • IHTM44076 · Election into Inheritance Tax: withdrawal of an election
  • IHTM44077 · Election into Inheritance Tax: when a late election may be accepted
  • IHTM44078 · Election into Inheritance Tax: refusal to accept a late election
  • IHTM44100 · Specific avoidance schemes: land - lease carve-out scheme
  • IHTM44101 · Specific avoidance schemes: land - settlement on interest in possession trusts
  • IHTM44102 · Specific avoidance schemes: land - reversionary leases
  • IHTM44103 · Specific avoidance schemes: land - home loan or double trust scheme
  • IHTM44104 · Specific avoidance schemes: land - double trust or home loan scheme: loan repayable on demand
  • IHTM44105 · Specific avoidance schemes: land - double trust or home loan scheme: loan not repayable until after the individual’s death
  • IHTM44106 · Specific avoidance schemes: land - double trust or home loan scheme: alternative approach
  • IHTM44107 · Specific avoidance schemes: land - debt & charge scheme
  • IHTM44108 · Specific avoidance schemes: chattels - lease carve-out scheme
  • IHTM44109 · Specific avoidance schemes: chattels - gift and leaseback scheme
  • IHTM44110 · Specific avoidance schemes: intangibles - settlement on interest in possession trusts
  • IHTM44111 · Insurance based products: introduction
  • IHTM44112 · Insurance based products: discounted gift trust
  • IHTM44113 · Insurance based products: gift and loan trust
  • IHTM44114 · Insurance based products: pension policies
  • IHTM44115 · Insurance based products: business trusts and partnership policies
  • IHTM44116 · Insurance based products: policies settled on trusts before 18 March 1986
  • IHTM44120 · Unwinding of home loan or double trust scheme: background
  • IHTM44121 · Unwinding of home loan or double trust scheme: joint settlor schemes unwound after first death
  • IHTM44122 · Unwinding of home loan or double trust scheme: joint settlor schemes - loan valued at less than open market value of the property on the death of the first settlor
  • IHTM44123 · Unwinding of home loan or double trust scheme: downsizing
  • IHTM44124 · Unwinding of home loan or double trust scheme: downsizing - loan valued at less than the open market value of the property on the death of the first settlor
  • IHTM44125 · Unwinding of home loan or double trust scheme: tracing
  • IHTM44126 · Unwinding of home loan or double trust scheme: payment of Inheritance Tax
  • IHTM44127 · Unwinding of home loan or double trust scheme: residence nil rate band
  • IHTM44128 · Unwinding of home loan or double trust scheme: pre-owned asset charge
  1. Pre-owned Assets
  2. Pre-owned assets: election into Inheritance Tax: how to make an election

IHTM44074 | Pre-owned assets: election into Inheritance Tax: how to make an election

From HM Revenue & Customs · Inheritance Tax Manual

The election must be made using form IHT500, which is the form prescribed by the Income Tax (Benefits Received by Former Owner of Property) (Election for Inheritance Tax Treatment) Regulations SI2007/3000. It should be sent to:

Inheritance Tax
HM Revenue & Customs
BX9 1HT

PreviousNext
PrivacyTerms