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HMRC internal manual

Inheritance Tax Manual

HM Revenue & Customs
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Investigating the assets on page 7 - Debts due to the estate (box 73)

Box 73 of the IHT400 should include

  • any money which the deceased had lent to someone and which had not been repaid at the date of death
  • money that the deceased had lent to trustees linked to a life policy held in trust
  • money for which the deceased held a promissory note
  • money for which the deceased held an ‘IOU’
  • money owing to the deceased from a director’s loan account or current account with a company.
  • Money owing to the deceased and secured by mortgage

Details of the sums owed to the deceased should be included on form IHT416. A separate IHT416 should be completed for each outstanding sum.

Further information about how to value and investigate outstanding debts due to the deceased can be found in section 19 (IHTM19000).