How do I prepare an IHT400 form and the relevant schedules?

When preparing an IHT400, most of the schedules will generate automatically based on assets you have entered in to your case and the values from these schedules will then populate the IHT400. All other schedules should be chosen manually in the IHT400 form and once completed, their values will also populate the IHT400. To find out more, please watch the below videos or follow the step by step guide.

IHT schedules automation status
Video: How to generate and edit the IHT400
Video: How to generate autogenerated schedules
Video: How to generate manual schedules
Video: Forms Housekeeping
Step by step guide

Video: How to generate and edit the IHT400

Length: 3 Minutes 35 Seconds

Video: How to view autogenerated schedules

Length: 3 Minutes 8 seconds

Video: How to generate manual schedules

Length: 1 Minute 46 seconds

Video: Forms Tips & Tricks

Length: 2 minutes 10 seconds

💁 The schedules we currently auto-generate or auto-populate based on the asset or case information you enter in the platform are shown in the table below via the ✅ or ✏️symbol.

💁 Manual schedules are identified by the🔧 or ☑️ symbol and will generate after ticking the relevant box in the IHT400 and saving the form. Once values have been entered in manual schedules the values/totals will also populate the main IHT400 form.

💡To find out more, please watch the above videos or follow the step by step guide below.

IHT Schedule	Automation status
IHT401 Domicile outside the United Kingdom	🔧 Manually generated & populated, tick IHT400 box 48c or 122
IHT401a Long-term United Kingdom (UK) residence	🔧 Manually generated & populated, tick IHT400 box 122
IHT402 Transfer of unused nil rate band	☑️ Manually generated & auto populated, tick IHT400 box 29c
IHT403 Gifts and other transfers of value	✅ Auto generated & populated
IHT404 Jointly owned assets	✅ Auto generated & populated
IHT405 Houses, land, buildings and interests in land	✅ Auto generated & populated
IHT406 Bank and building society accounts	✅ Auto generated & populated
IHT407 Household and personal goods	✅ Auto generated & populated
IHT408 Household and personal goods donated to charity	✏️ Auto generated, manually populated
IHT409 Pensions	✅ Auto generated & populated
IHT410 Life assurance and annuities	✏️ Auto generated, manually populated
IHT411 Listed stocks and shares	✅ Auto generated & populated
IHT412 Unlisted stocks and shares and control holdings	🔧 Manually generated & populated, tick IHT400 box 39 or 122
IHT413 Business relief, business and partnership interests and assets	✏️ Auto generated, manually populated
IHT414 Farms, farmhouses and farmland	✏️ Auto generated, manually populated
IHT415 Interest in another estate	✏️ Auto generated, manually populated
IHT416 Debts due to the estate	✏️ Auto generated, manually populated
IHT417 Foreign assets	✏️ Auto generated, manually populated
IHT418 Assets held in trust	✅ Auto generated & populated
IHT419 Debts owed by the deceased	🔧 Manually generated & populated, tick IHT400 box 46 or 122
IHT420 National Heritage assets	✏️ Auto generated, manually populated
IHT421 Probate summary	✅ Auto generated & populated
IHT423 Direct Payment Schemes for Inheritance Tax	✅ Auto populated schedule via IHT expense entry (see more details)
IHT430 Reduced rate of Inheritance Tax	🔧 Manually generated & populated schedule, tick IHT400 box 122
IHT435 Residence nil rate band	☑️ Manually generated & auto populated, tick IHT400 box 29a
IHT436 Transfer of unused residence nil rate band	☑️ Manually generated & auto populated, tick IHT400 box 29b
IHT437 Transfer unused 100% relief allowance for agricultural property or business property	✨ Form coming soon

Step by step guide

❗ In order to generate an IHT400 you must create a case, add the Executor(s) and add at least one asset to your case

On the left hand side menu bar of your Estate overview, choose Documents & forms and click into Inheritance tax forms

Pick the IHT400 from the drop down and click Generate form

Once opened, you'll see that a large amount of the IHT400 is pre-populated with information you have already entered into your case on the platform, saving you lots of time not having to re-key data

💡 White fields on the IHT400 are not editable. This is because they are populated with either information entered into your case on the platform or with values/totals from corresponding schedules and calculations

To edit information in white fields you must go to where you originally entered the data, update the information and save. When you re-open your IHT400 the information will have automatically updated. For example, if you have misspelt the deceased's name, go back to your Estate overview, click into the deceased's details, update the name with the correct spelling and click Save. Go back and open the IHT400 to see the correct spelling displayed

💡 Grey fields are editable

To edit information in grey fields simply update the information on the form as necessary. Be sure to save as you go by clicking Save & close

✅ Auto generated and populated schedules

On the Inheritance tax forms page, auto generated schedules will start appearing on the page as soon as you generate an IHT400 form
Open each schedule to see the asset information you entered pre-populated
In the main IHT400 you will see the values from auto populated schedules already populated in the relevant fields

☑️ Manually generated, auto populated schedules

Open the IHT400
On pages 5, 6 or 13, tick the schedules you require and then click Save & close
On the Inheritance tax forms page you will now see your chosen schedules listed
Open the schedule to see the case information you entered pre-populated
Add any additional information you need and save and close the form
Open the main IHT400 and you will see the values from the schedule populated in the relevant fields

✏️ Auto generated, manually populated schedules

On the Inheritance tax forms page you will see any auto generated schedules which require values to be manually entered flagged with a Manual entry status

Click into a schedule
Enter the information needed
Click Save & close
Open up the IHT400 and you will see totals and values from these manually completed schedules populated in the relevant fields

🔧 Manually generated and populated schedules

Open the IHT400
On pages 5, 6 or 13, tick the schedules you require and then click Save & close
On the Inheritance tax forms page you will now see your chosen schedules listed, they will be flagged with a Manual entry status
Click into a schedule
Enter the information needed
Click Save & close
Open up the IHT400 and you will see totals and values from these manually completed schedules will pre-populate into relevant fields

Managing inheritance tax forms

Your forms and schedules are saved in the Inheritance tax forms page. From here you can:

Select any other additional IHT forms or corrective accounts forms you need
See the Actions menu of a schedule or form by clicking on the three dots to the right
Delete schedules that are not generated from asset information

Add another IHTXXX schedule to manual schedules if you need to complete multiples of the same schedule

💁 To delete an autogenerated schedule, simply delete the corresponding asset(s) and it will automatically delete the schedule

💁 If there are lots of items on an autogenerated schedule, it will automatically create another schedule if more space is needed

You can open, view, edit and update any of your forms and schedules from this overview section whenever necessary
Once you have completed all the required information in the IHT400 form and the relevant schedules, you can do a final review of your form and print it off ready for signatures

👍 The IHT400 form and schedules will remain stored in your Inheritance Tax forms tab so you can access them at any time

👍 The platform populates the IHT400 form and schedules with the most up to date case information every time you open a form so you can have confidence the form is always up-to-date

👷 Our team are regularly making improvements and adding new features. Some things may have changed since this guide was written as functionality gets even more fabulous. If you need further assistance, please contact the Customer Success team who are always happy to help

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☎️ Call us on 020 8152 2902

✉️ Email us on support@legal.exizent.com