IHTM19050 - Procedures: information required on form IHT416

Box 1

The date the deceased made the original loan.

Box 2

The amount of money originally loaned by the deceased.

Box 3

The full value of the capital and interest outstanding, unless it was impossible or not reasonably possible for the money to have been repaid, when a reduced figure may be included.

Any reduced figure must be accompanied by an explanation and calculation showing how the figure was arrived at, at box 9 of the IHT416, and some form of evidence to show why a reduced figure is being included.

Box 5

The name(s) of the borrowers and their relationship to the deceased.

Box 6

The amount of interest charged and the rate of interest charged as well as the period over which it was charged.

Box 7

Details of the capital repayments made on the loan

Box 8

Evidence to support the existence of the loan. For example, a mortgage deed will show that the loan was secured on the property. Another form of evidence might be a letter between the deceased and the person borrowing the money. A copy of this evidence should be attached. If there is no written evidence, the box should contain brief details of the terms of the loan, the period of the loan and whether or not it was repayable on demand.