SevenyearReport for your file: lifetime gifts review
- Period reviewed
- 14 Mar 2019 – 14 Mar 2026
- Prepared for
- [firm], case ref. [ref]
- Report date
- 2 June 2026
1Summary
3accounts reviewed
249 of 252months reviewed
3gap records, each with the action taken (one since closed)
14flagged items, each with a decision
2Accounts and months reviewed
| Account | How it was found | Source of statements | Months | Covered |
|---|---|---|---|---|
| Barclays current ·· 0412 | Paper statements at home | Paper (scanned) and bank PDF | 81 of 84 | |
| Nationwide savings ·· 9930 | Asset search result | Bank PDF; Mar 2019 – Feb 2020 as a list without balances | 84 of 84 | |
| Nationwide ·· 4471 | Seen in 37 transfers from ·· 0412; not supplied at first | Bank PDF, after request | 84 of 84 |
One square per monthly statement over the seven years, one row per year: reviewed and balance-checked, reviewed, not balance-checked (no balances printed), no statement.
3Gaps and what was done about them
| Gap | Action | Outcome | Status |
|---|---|---|---|
| Barclays ·· 0412, Aug 2021 and Sep 2021 | Requested from Barclays, 4 Apr 2026; chased 18 Apr | Bank confirmed on 22 Apr that copies are not available for these months | Recorded as a gap |
| Barclays ·· 0412, Dec 2024 | Requested 4 Apr 2026 | No reply by report date; the balances either side are known; the transactions that month remain unreviewed | Recorded as a gap |
| Nationwide ·· 4471, whole account | Account identified from transfers; requested 4 Apr 2026 | 84 months received 30 Apr 2026 and reviewed | Closed |
4Flagged items and decisions
Every flagged item stays in this list, including those marked not a gift.
| Date | Payee and amount | Why it was flagged | Decision | Note and who decided | Statement page |
|---|---|---|---|---|---|
| 15 Mar 2021 | Transfer T. Hale · £5,000 | Large one-off to a family surname | Gift | Son confirmed; executor P. Hale, 12 May | ·· 9930, Mar 2021, p. 115 Mar TFR T HALE FPS5,000.00 |
| Sep 2020 – Apr 2023 | St Mary's School · 6 × £4,150 | School fees: confirm who they were for | Gift | Grandson G. Hale's fees; executor, 12 May (6 items) | ·· 0412, 6 pages from Sep 202001 Sep ST MARYS SCHOOL4,150.00+5 more |
| 18 Jun 2022 | Transfer K. Hale · £1,000 | One-off to a family surname | Gift | Wedding of granddaughter; executor, 12 May. Exemptions are for the adviser to consider | ·· 0412, Jun 2022, p. 218 Jun TFR K HALE WEDDING1,000.00 |
| Monthly, 2019 – 2026 | Standing order J. Hale · £300 | Regular transfer to a family member. The printed name, J HALE, fits two people the firm named: John Hale (son) and Jessica Hale (granddaughter) | Loan | To John Hale (son): the loan agreement dated May 2019 names him; adviser, 14 May | ·· 0412, every statement; first Apr 2019, p. 101 Apr SO J HALE300.00+ every month |
| 02 Jun 2020 | Transfer R. Hale · £800 | Transfer to a family surname | Not a gift | Repaid in July 2020 (credit seen on ·· 0412); executor, 12 May | ·· 0412, Jun 2020, p. 1; repaid Jul 2020, p. 202 Jun TFR R HALE800.00 |
| Mar 2024, Nov 2024 | Cash withdrawals · £1,500, £1,200 | Above the usual cash pattern | Not a gift | Care costs, receipts on file; executor, 13 May (2 items) | ·· 0412, Mar 2024, p. 3; Nov 2024, p. 112 Mar CASH HIGH ST ATM1,500.00+1 more |
| Monthly, 2024 – 2026 | A. Lewis · £620 | Regular transfer to a named person | Not a gift | Paid carer, invoices on file; executor, 13 May | ·· 0412, monthly; first Feb 2024, p. 205 Feb FPS A LEWIS CARE620.00+ monthly |
| 2019 – 2026 | Transfers to Nationwide ·· 4471 | Account not supplied | Not a gift | The deceased's own account; reviewed in full; executor, 13 May | ·· 0412, 37 transfers; matched on ·· 447103 Apr TFR NATIONWIDE 4471250.00+36 more |
14 items in 8 rows: a row can group items with the same decision, and a regular series, such as the standing order to J. Hale, counts as one item.
5Draft IHT403 gifts schedule (extract)
| Date | Recipient | Description | Value |
|---|---|---|---|
| 15 Mar 2021 | T. Hale (son) | Bank transfer | £5,000 |
| Sep 2020 – Apr 2023 | G. Hale (grandson) | School fees paid to St Mary's School: 6 payments of £4,150, on 1 Sep 2020, 4 Jan 2021, 19 Apr 2021, 1 Sep 2022, 4 Jan 2023 and 17 Apr 2023 | £24,900 |
| 18 Jun 2022 | K. Hale (granddaughter) | Bank transfer on marriage | £1,000 |
| Total of the gifts listed, with no exemptions or reliefs applied | £30,900 | ||
Draft only. For the executor and their adviser to check, complete and file. No exemptions or reliefs have been applied, and nothing has been sent to HMRC. It covers gifts found in the bank statements reviewed; gifts of other assets, gifts with reservation of benefit and transfers from accounts outside this record are for the executor and their adviser to consider. Earlier transfers may also affect the tax calculation; this supporting schedule does not complete every IHT403 enquiry.
6Next steps and exceptions
Each gap and anything else still open when the report was approved, and what was agreed.
| Item | Status at approval | Next step |
|---|---|---|
| Barclays ·· 0412, August and September 2021 | Barclays confirmed copies are not available | Recorded as a gap. The firm also asked the family for any paper copies (none found). Accepted by the supervising solicitor on 2 June 2026: the balances either side are known; the two months' transactions remain unreviewed. |
| Barclays ·· 0412, December 2024 | No reply to the request of 4 Apr 2026 | Approved with this as a named exception. The case handler chases Barclays by 16 June 2026; if the statement arrives, it is reviewed and version 2 of this report issued. |
| Nationwide savings ·· 9930, Mar 2019 – Feb 2020 | Supplied as a list without balances, so not balance-checked | None. Tied to the balances either side and the dates checked; every flagged item on these months read by a person. |
Two extras, being tested. Sections 7 and 8 come from the same statements. We're asking firms whether they'd help before we build them, so they aren't part of the pilot yet.
7Assets to trace Being tested
Payments that point to assets for the IHT400 rather than to gifts, each with the schedule it would go on.
| Lead | What the statements show | Points to | What the firm found |
|---|---|---|---|
| NS&I prizes | 14 prize payments of £25 to £100 into ·· 0412, Jan 2020 – Nov 202517 Jan NS&I PRIZE25.00+13 more | Premium Bonds IHT406, box 3 | NS&I confirmed £4,500 in Premium Bonds at the date of death; 24 Apr 2026 |
| Transfers to an ISA | £4,000 from ·· 9930 each April, 2019 – 2023, to an account that wasn't supplied06 Apr TFR COVENTRY ISA4,000.00+4 more | A cash ISA missing from the asset search IHT406 | Coventry Building Society confirmed £23,118.40 at the date of death and no withdrawals in the seven years; 6 May 2026 |
| Pension annuity | £412.15 a month into ·· 0412, the last on 28 Feb 202628 Feb AVIVA PENSION ANNUITY412.15+ monthly | An annuity that may pay on after death (a guarantee period) IHT409 | Aviva confirmed the guarantee period ended in 2021 and nothing more is payable; 22 Apr 2026 |
| Life plan premiums | £18.40 a month from ·· 0412, Apr 2019 – Feb 2020, then no more payments, with no refund or cancellation seen03 Feb DD OVER 50 PLAN18.40+10 more | A life policy: some over-50s plans stop taking premiums at 90 and keep the cover IHT410 | The insurer confirmed the plan was in force at death: £3,120 payable to the estate, not written in trust; 28 Apr 2026 |
| Loan to John Hale | £300 a month (section 4: a loan, agreement dated May 2019). 81 payments seen, £24,300; three months had no statement01 Apr SO J HALE300.00+80 more | Money owed to the estate IHT416 | John Hale (son) confirmed 84 payments (£25,200) and no repayments; adviser, 14 May 2026 |
Also looked for, and not found: dividends or other payments from share registrars, rent received, payments into a pension, and premiums to any other policy.
8Income and spending, by tax year Being tested
Income and spending in each tax year with a gift, taken from the statements and laid out like page 8 of the IHT403 (boxes 20 to 22). A dash means nothing of that kind appears in the statements.
| IHT403 row (£) | 2020/21 | 2021/22* | 2022/23 | 2023/24 |
|---|---|---|---|---|
| Box 20 · Income, as paid into the accounts | ||||
| Pensions | 13,543 | 11,504 | 14,416 | 14,701 |
| Interest | 184 | 103 | 402 | 820 |
| Salary, investments, rents, annuities, other | – | – | – | – |
| Minus income tax paid | P60s | P60s | P60s | P60s |
| Net income | 13,727 | 11,607 | 14,818 | 15,521 |
| Box 21 · Expenditure | ||||
| Insurance | 361 | 373 | 385 | 413 |
| Household bills | 2,118 | 1,804 | 2,187 | 2,251 |
| Council Tax | 1,842 | 1,598 | 1,931 | 2,016 |
| Mortgages, travelling, entertainment, holidays, nursing home fees | – | – | – | – |
| Other: shopping by card | 4,412 | 3,688 | 4,530 | 4,671 |
| Other: cash | 1,860 | 1,540 | 1,900 | 3,560 |
| Other: care at home (A. Lewis) | – | – | – | 1,240 |
| Total expenditure | 10,593 | 9,003 | 10,933 | 14,151 |
| Box 22 | ||||
| Surplus (deficit) income for the year | 3,134 | 2,604 | 3,885 | 1,370 |
| Gifts made (section 4 decisions) | 13,300 | 4,150 | 9,300 | 4,150 |
- * 2021/22 covers 10 months of ·· 0412: there are no statements for August and September 2021 (section 3).
- Pensions are the State Pension and the Aviva annuity as paid in, after tax taken at source. The gross amounts and the tax paid come from the P60s, which aren't in the statements.
- Not counted: transfers between the deceased's own accounts, the loan to John Hale (section 7), and Premium Bond prizes (whether those count as income is for the adviser).
- Cash in 2023/24 includes the £1,500 withdrawn on 12 March 2024 for care costs (section 4).
Figures only. Whether any gift was normal expenditure out of income, and whether to claim it, is for the executor and their adviser. Sevenyear doesn't apply the exemption.
9How this record was produced
Each statement page was read twice, independently: by an AI model, and from the bank's PDF text or a separate OCR read for scans. Every line was checked against both reads and against the balances printed on the page, where there were any (section 2 shows the months without). The 11 pages that didn't add up, or where the two reads disagreed, were checked against the original by the firm.
Made with Sevenyear 1.2. Every reading in this case is stored with the release that made it, and a list of what each release contains is available to the firm on request.
This report records the enquiries made and the decisions taken. Whether those enquiries are sufficient in a particular estate is a matter for the executor and their adviser.
Reviewed by (case handler)
Approved by (supervising solicitor), with 1 named exception (section 6)
Read and checked with Sevenyear 1.2 · Report version 1 · 2 June 2026