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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
, see all updates

Liabilities: contents

Introduction
  1. IHTM28001
    Introduction: Summary
  2. IHTM28002
    Introduction: General background to deducting liabilities
Restricted deductions
  1. IHTM28010
    Restricted deductions: Introduction
  2. IHTM28011
    Restricted deductions: When the provisions apply
  3. IHTM28012
    Restricted deductions: Meaning of 'maintain' and 'enhance'
  4. IHTM28013
    Restricted deductions: Meaning of 'indirectly'
  5. IHTM28014
    Restricted deductions: Borrowed money used to acquire excluded property
  6. IHTM28015
    Restricted deductions: Disposal of acquired assets where money has been borrowed to acquire excluded property
  7. IHTM28016
    Restricted deductions: Property is no longer excluded where money has been borrowed to acquire excluded property
  8. IHTM28017
    Restricted deductions: Excess liability over value of excluded property where money has been borrowed to acquire excluded property
  9. IHTM28018
    Restricted deductions: Excess liability over property that has become excluded where money has been borrowed to acquire excluded property
  10. IHTM28019
    Restricted deductions: Borrowed money used to acquire assets that qualify for relief
  11. IHTM28020
    Restricted deductions: Borrowed money used to acquire assets that qualify for business relief
  12. IHTM28021
    Restricted deductions: Borrowed money used to acquire assets that qualify for agricultural relief
  13. IHTM28022
    Restricted deductions: Borrowed money used to acquire assets that qualify for both agricultural and business relief
  14. IHTM28023
    Restricted deductions: Borrowed money used to acquire assets that qualify for woodlands relief
  15. IHTM28024
    Restricted deductions: Transfer of relievable assets where borrowed money is used to acquire assets that qualify for relief
  16. IHTM28025
    Restricted deductions: Examples where money has been borrowed to 'indirectly' acquire excluded or relievable property
  17. IHTM28026
    Restricted deductions: Partial repayment of loan before tax charge arises
  18. IHTM28027
    Restricted deductions: Repayment of liabilities deducted against the estate on death
  19. IHTM28028
    Restricted deductions: Meaning of 'out of estate'
  20. IHTM28029
    Restricted deductions: Non-repayment of liabilities deducted against the estate on death
  21. IHTM28030
    Restricted deductions: Interaction with spouse or civil partner exemption where liabilities are deducted against the estate on death
  22. IHTM28031
    Restricted deductions: Investigation of liabilities deducted against the estate on death
  23. IHTM28032
    Restricted deductions: Partial repayment of liabilities after death
  24. IHTM28033
    Restricted deductions: Borrowed money used to fund a foreign currency bank account
Investigating liabilities
  1. IHTM28040
    Investigating liabilities: General principles
  2. IHTM28041
    Investigating liabilities: Accountants and solicitors fees
Investigating liabilities: Annuities
  1. IHTM28050
    Investigating liabilities: Annuities
  2. IHTM28051
    Investigating liabilities: Annuities: Payment of annuity is the personal responsibility of the deceased or transferor
  3. IHTM28052
    Investigating liabilities: Annuities: Annuitant can insist that capital is set aside to meet annuity
Investigating liabilities: Capital gains tax
  1. IHTM28060
    Investigating liabilities: Capital gains tax: Capital Gains Tax (CGT)
  2. IHTM28061
    Investigating liabilities: Capital gains tax: Link between CGT liability and assets in the estate
Investigating liabilities: Contingent liabilities
  1. IHTM28070
    Investigating liabilities: Contingent liabilities
Investigating liabilities: Costs & commissions
  1. IHTM28080
    Investigating liabilities: Costs and commissions
  2. IHTM28081
    Investigating liabilities: Costs and commissions: Costs of sale (general)
  3. IHTM28082
    Investigating liabilities: Costs and commissions: Costs of receiver/deputy for a person lacking capacity
  4. IHTM28083
    Investigating liabilities: Costs and commissions: Costs of discharge of Curator Bonis
  5. IHTM28084
    Investigating liabilities: Costs and commissions: Costs of Agents' commission for recovery of an asset
Investigating liabilities: Divorce and separation payments
  1. IHTM28090
    Investigating liabilities: Divorce and separation payments: Separation, divorce or dissolution of a civil partnership payments
  2. IHTM28091
    Investigating liabilities: Divorce and separation payments: Annuities payable on separation, divorce or dissolution of a civil partnership
  3. IHTM28092
    Investigating liabilities: Divorce and separation payments: Claims for financial relief for divorce under the Matrimonial Causes Act or dissolution of a civil partnership under the Civil Partnership Act 2004
  4. IHTM28093
    Investigating liabilities: Divorce and separation payments: Claims for financial relief under the Family Law (Scotland) Act 1985 or Civil Partnership Act 2004
  5. IHTM28094
    Investigating liabilities: Divorce and separation payments: Interim maintenance orders ceasing on the deceased's death
Investigating liabilities: Foreign taxes
  1. IHTM28100
    Investigating liabilities: Foreign taxes: Overseas taxes
  2. IHTM28101
    Investigating liabilities: Foreign taxes: Deduction for tax debts in the Republic of Ireland
  3. IHTM28102
    Investigating liabilities: Foreign taxes: Canadian Income Tax
  4. IHTM28110
    Investigating liabilities: Foreign taxes: Future debts
  5. IHTM28120
    Investigating liabilities: Foreign taxes: Future payments incurred under s262
  6. IHTM28130
    Investigating liabilities: Foreign taxes: Gambling debts
  7. IHTM28140
    Investigating liabilities: Foreign taxes: Goods and services
Investigating liabilities: Income Tax
  1. IHTM28150
    Investigating liabilities: Income Tax
  2. IHTM28151
    Investigating liabilities: Income Tax: Large Income Tax liabilities
  3. IHTM28152
    Investigating liabilities: Income Tax: Income Tax investigation settlements
  4. IHTM28153
    Investigating liabilities: Income Tax: Estimated Income Tax liabilities
  5. IHTM28154
    Investigating liabilities: Income Tax: Income Tax on the disposal of an 'offshore fund'
  6. IHTM28155
    Investigating liabilities: Income Tax: Income Tax on the disposal of deep discount securities
  7. IHTM28157
    Investigating liabilities: Income Tax: Income Tax on sums receivable following the discontinuance of a business
  8. IHTM28158
    Investigating liabilities: Income Tax: Income Tax payable on the death of a partner in a business
  9. IHTM28159
    Investigating liabilities: Income Tax: Voluntary payments of tax
  10. IHTM28160
    Investigating liabilities: Income Tax: Chargeable gains that give rise to an Income Tax liability when a life insurance policy matures
Investigating liabilities: Inheritance tax
  1. IHTM28170
    Investigating liabilities: Inheritance Tax
  2. IHTM28171
    Investigating liabilities: Inheritance Tax: Contingent inheritance tax liability
Investigating liabilities: Insurance premiums
  1. IHTM28180
    Investigating liabilities: Insurance premiums
Investigating liabilities: Local authority payments
  1. IHTM28190
    Investigating liabilities: Local authority payments
  2. IHTM28191
    Investigating liabilities: Local authority payments: Rates in Northern Ireland
  3. IHTM28192
    Investigating liabilities: Local authority payments: Council Tax
Investigating liabilities: Medical bills
  1. IHTM28200
    Investigating liabilities: Medical bills
Investigating liabilities: Mortgages
  1. IHTM28210
    Investigating liabilities: Mortgages
  2. IHTM28240
    Investigating liabilities: Mortgages: Property repairs
  3. IHTM28250
    Investigating liabilities: Mortgages: Redundancy payments
  4. IHTM28260
    Investigating liabilities: Mortgages: Rents payable in advance
  5. IHTM28270
    Investigating liabilities: Mortgages: Set-aside payments
  6. IHTM28280
    Investigating liabilities: Mortgages: Sums owed to unlisted companies
Investigating liabilities: Sums payable to third parties
  1. IHTM28291
    Investigating liabilities: Sums payable to third parties: Sums payable to third parties in England and Wales
  2. IHTM28292
    Investigating liabilities: Sums payable to third parties: Sums payable to third parties in Scotland
  3. IHTM28293
    Investigating liabilities: Sums payable to third parties: Extent to which sums payable to third parties are allowable
Investigating liabilities: Uncashed cheques
  1. IHTM28300
    Investigating liabilities: Uncashed cheques
Investigating form IHT419
  1. IHTM28311
    Investigating form IHT419: Purpose of the form
Investigating form IHT419: Loans from relatives and friends
  1. IHTM28321
    Investigating form IHT419: Loans from relatives and friends: Obtaining information about loans from friends and relatives
  2. IHTM28322
    Investigating form IHT419: Loans from relatives and friends: Investigating form loans from friends and relatives
  3. IHTM28323
    Investigating form IHT419: Loans from relatives and friends: Is a loan from friends and family allowable?
  4. IHTM28330
    Investigating form IHT419: Loans from relatives and friends: Money spent on behalf of the deceased by a close friend or relative
  5. IHTM28340
    Investigating form IHT419: Loans from relatives and friends: Liabilities relating to an insurance policy
Investigating form IHT419: Guarantee debts
  1. IHTM28351
    Investigating form IHT419: Guarantee debts: What is a guarantee debt?
  2. IHTM28352
    Investigating form IHT419: Guarantee debts: Obtaining information about a guarantee debt
  3. IHTM28353
    Investigating form IHT419: Guarantee debts: Consideration for a guarantee debt
  4. IHTM28354
    Investigating form IHT419: Guarantee debts: Reimbursement of guaranteed debt
  5. IHTM28355
    Investigating form IHT419: Guarantee debts: Calculating the allowable deduction for a guarantee debt
  6. IHTM28356
    Investigating form IHT419: Guarantee debts: Lifetime transfers on guarantee debts
  7. IHTM28357
    Investigating form IHT419: Guarantee debts: Lifetime transfers on guarantee debts called in and fully paid before death
Investigating form IHT419: Section 103 FA 1986 liabilities
  1. IHTM28361
    Investigating form IHT419: Section 103 FA 1986 liabilities: Purpose of FA86/s103
  2. IHTM28362
    Investigating form IHT419: Section 103 FA 1986 liabilities: How FA86/S103 works?
  3. IHTM28363
    Investigating form IHT419: Section 103 FA 1986 liabilities: How to identify and handle FA86/s103 debts
  4. IHTM28364
    Investigating form IHT419: Section 103 FA 1986 liabilities: Practical guidance on dealing with FA86/s103 debts
  5. IHTM28365
    Investigating form IHT419: Section 103 FA 1986 liabilities: How FA86/S103 applies when the consideration is 'property derived from the deceased'
  6. IHTM28366
    Investigating form IHT419: Section 103 FA 1986 liabilities: How FA86/S103 applies when there is 'consideration given by any person whose resources at any time included property derived from the deceased'
  7. IHTM28367
    Investigating form IHT419: Section 103 FA 1986 liabilities: Definition of property derived from the deceased for FA86/S103 purposes
  8. IHTM28368
    Investigating form IHT419: Section 103 FA 1986 liabilities: When property derived from the deceased can be disregarded for FA86/S103 purposes?
  9. IHTM28369
    Investigating form IHT419: Section 103 FA 1986 liabilities: Allowing part of a debt under FA86/S103 (2)
  10. IHTM28370
    Investigating form IHT419: Section 103 FA 1986 liabilities: Double charges following disallowance of a debt under FA86/S103
Law relating to debts
  1. IHTM28381
    Law relating to debts: Legal background
  2. IHTM28382
    Law relating to debts: What is consideration?
  3. IHTM28383
    Law relating to debts: Debts must be legally enforceable
  4. IHTM28384
    Law relating to debts: Statute-barred debts
  5. IHTM28385
    Law relating to debts: Right to reimbursement
Law relating to debts: Property against which deductions may be made
  1. IHTM28391
    Law relating to debts: Property against which deductions may be made: General rules for deducting liabilities against property
  2. IHTM28392
    Law relating to debts: Property against which deductions may be made: Deducting liabilities that are charged or fixed to specific property
  3. IHTM28393
    Law relating to debts: Property against which deductions may be made: Deducting business debts
  4. IHTM28394
    Law relating to debts: Property against which deductions may be made: Deducting foreign debts
  5. IHTM28395
    Law relating to debts: Property against which deductions may be made: Deducting liabilities where there is excluded property
  6. IHTM28396
    Law relating to debts: Property against which deductions may be made: Deducting UK debts when there is both UK and foreign property in the estate
  7. IHTM28397
    Law relating to debts: Property against which deductions may be made: Dealing with deficits