IHT412 Page 1 HMRC 09/14
When to use this form
Fill in this form to tell us about any stocks and shares owned
by the deceased that are:
• listed on the Alternative Investment Market (AIM)
or traded on OFEX
• held in a private limited company, Business Expansion
Scheme (BES) or Business Start-up Scheme (BSS)
• listed on a recognised stock exchange and the deceased had
control of the company.
All other holdings of stocks and shares should be listed on
Schedule 411 Listed stocks and shares.
You need to tell us about any dividends and interest on the
stocks and shares that were due at the date of death but have
not yet been paid. We explain the different types of dividends,
and what to include, in the IHT400 Notes.
Help
Please read the guidance notes for form IHT412 in the
IHT400 Notes before filling in this form. For more
information or help or another copy of this form:
• go to www.gov.uk/topic/personal-tax/inheritance-tax
• phone our Helpline on 0300 123 1072
— if calling from outside the UK, phone +44 300 123 1072.
Notes
You cannot deduct business relief on any unlisted shares that
were subject to a binding contract for sale at the date of death,
unless the sale was made in order to reconstruct or
amalgamate the company.
Business relief is not due on traded unlisted shares that are
quoted on a recognised foreign stock exchange. To check
whether or not business relief is due:
1 visit the website for the company in which the shares were
held. This will tell you whether the shares are traded on
another exchange, then
2 check whether any other exchange on which the shares are
traded is on the list of recognised stock exchanges at
www.gov.uk/guidance/recognised-stock-exchanges
If it is, business relief is not due on the shares.
Name of deceased
Date of death DD MM YYYY
IHT reference number (if known)
Paying tax by instalments
In some rare circumstances you may be able to pay tax by
instalments on unlisted shares that do not qualify for
business relief.
You will be able to do this if:
• you can show that the Inheritance Tax on the value of the
shares could not be paid in one sum without undue
hardship, or
• at least 20% of the tax for which the same person is liable in
the same capacity, is on assets (including the shares in
question) that qualify for payment by instalments, or
• the value of the shares is more than £20,000 and the shares
represent at least 10% of the nominal value of the company’s
share capital or (if they are ordinary shares) at least 10% of
the nominal value of the ordinary share capital.
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 66 of form IHT400, not box 65.
Business relief on lifetime gifts
There are special rules which apply to business relief on
lifetime gifts and you should read the rules in the
IHT400 Notes if you want to deduct business relief from a gift
of unlisted stocks and shares or control holdings.
Unlisted stocks and shares
and control holdings
Schedule IHT412
