Get Uk Iht407 2018-2026

Filling out the UK IHT407 form is a crucial step in reporting the household and personal goods of a deceased individual for inheritance tax purposes. This guide provides a clear, step-by-step approach to complete the form accurately and effectively.

Follow the steps to fill out the IHT407 form correctly.

1. Click ‘Get Form’ button to obtain the form and open it for completion.
2. Enter the name of the deceased in the appropriate field to identify the individual whose assets are being reported.
3. Provide the date of death in the specified format (DD MM YYYY). This date is essential for assessing the value of the goods.
4. If known, input the Inheritance Tax reference number. This helps in tracking the tax case.
5. For jewellery items valued at £1,500 or more, list each item in the space provided, along with their descriptions, sale information if applicable, and their open market value at the date of death.
6. For vehicles, boats, and aircraft, enter details such as manufacturer, model, year of manufacture, registration number, and condition at the time of death. Include sale details if sold and open market value at the date of death.
7. For antiques, works of art, or collections, describe each item and provide their open market value from the date of death. Include sale information if applicable.
8. In the section for other household and personal goods, calculate and enter the total value of items not included in previous boxes. This includes items like less valuable jewellery and furniture.
9. Indicate whether any items listed in box 4 were included in the deceased's household insurance policy by selecting 'Yes' or 'No.' Attach a copy of the policy if applicable.
10. Finally, total the values from boxes 1, 2, 3, and 4 to indicate the total value of all household and personal goods. This total must be included on form IHT400, box 55.
11. Once you have completed all sections, save your changes, and you have the option to download, print, or share the completed form as needed.

Start completing your IHT407 form online today to ensure accurate reporting of household and personal goods.