A jewellery item valued at £1,500 belongs in IHT407 box 1. Jewellery below that amount is included in the combined figure for other goods in box 4. This is a listing threshold: the lower-value items still contribute to the estate’s total.
Who needs the household goods schedule?
Use IHT407 with IHT400 to report the deceased’s household and personal goods, including furniture, jewellery, vehicles, boats and collections. Jointly owned goods are reported on IHT404 instead. HMRC’s English IHT407 PDF is dated 07/18 and has four pages.
The house itself is reported separately on IHT405 for houses and land. IHT407 covers the household and personal possessions. The guidance discussed here is the IHT400 notes for deaths on or after 1 January 2022.
How to fill in boxes 1 to 6
After the deceased’s name, death date and tax reference if known, the schedule groups items by category. Its final page collects the remaining goods and calculates the total for IHT400. Keep the box 4 figure separate from items already entered in the first three boxes.
| Box | What to report | Supporting details |
|---|---|---|
| 1 | Each jewellery item valued at £1,500 or more. | Description, date-of-death open market value and, if sold, sale date and gross proceeds. |
| 2 | Cars, motorcycles, other vehicles, boats and aircraft. | Manufacturer, model, year, registration where relevant, condition and car mileage. Give sale details if sold. |
| 3 | Antiques, art and collections. | Descriptions and values, plus sale dates and gross proceeds where applicable. |
| 4 | One total for all remaining household and personal goods. | Include jewellery below £1,500 and ordinary domestic items; no individual list is required here. |
| 5 | Whether any box 4 item was separately listed on the household insurance policy. | If yes, include the policy and its schedule where appropriate. |
| 6 | Add the values in boxes 1, 2, 3 and 4. | Transfer this figure to IHT400 box 55. |
Use sale value at death, not the insurance figure
HMRC’s notes define open market value as a realistic selling price at the date of death, such as a price the item could have fetched at auction or through public advertising. Insurance cover or the cost of buying a replacement is not that value.
A professional valuation is not required for ordinary goods where publicly available information can support an estimate, such as a second-hand car. HMRC advises obtaining a professional valuation if you think an item may exceed £1,500 or are unsure. Tell the valuer that the valuation is for the date of death.
The first three tables ask for a copy if you have a professional valuation. The IHT400 notes also give a specific instruction for a reduced account: supporting valuations should not be enclosed for assets passing to exempt beneficiaries under that procedure. Follow the account instructions that apply to the estate.
When an item has been sold, the tables ask for the sale date and gross proceeds alongside the date-of-death value. Keep those entries distinct; the form provides separate columns for them. Box 5’s insurance question concerns items included in box 4, even though the insurance value is not the valuation basis.
When and where to send IHT407
The schedule is submitted with IHT400. For deaths on or after 1 January 2022, the notes require the account within 12 months of death and direct the papers to Inheritance Tax, HM Revenue and Customs, BX9 1HT. Payment may be needed before a grant, so the account deadline should not be used as a tax-payment deadline.
Download all four pages of the official IHT407 below. The final page contains the insurance question and box 6 total, which do not appear on the first-page jewellery table.