IHTM28000 - Liabilities: contents


Introduction
Investigating liabilities
Investigating form IHT419
Law relating to debts

Click here to return to topIntroduction

IHTM28001Summary
IHTM28010General background to deducting liabilities

Click here to return to topInvestigating liabilities

IHTM28030General principles
IHTM28040Accountants and solicitors fees

Annuities

IHTM28050Annuities
IHTM28051Payment of annuity is the personal responsibility of the deceased or transferor
IHTM28052Annuitant can insist that capital is set aside to meet annuity

Capital gains tax

IHTM28060Capital gains tax
IHTM28061Link between capital gains tax liability and assets in the estate

Contingent liabilities

IHTM28070Contingent liabilities

Costs & commissions

IHTM28080Costs & commissions
IHTM28081Costs of sale (general)
IHTM28082Costs of discharge of receiver in lunacy
IHTM28083Costs of discharge of Curator Bonis
IHTM28084Costs of discovery agents' commission

Divorce and separation payments

IHTM28090Separation, divorce or dissolution of a civil partnership payments
IHTM28091Annuities payable on separation, divorce or dissolution of a civil partnership
IHTM28092Claims for financial relief for divorce under the Matrimonial Causes Act or dissolution of a civil partnership under the Civil Partnership Act 2004
IHTM28093Claims for financial relief under the Family Law (Scotland) Act 1985 or Civil Partnership Act 2004
IHTM28094Interim maintenance orders ceasing on the deceased's death

Foreign taxes

IHTM28100Foreign taxes
IHTM28101Deduction for tax debts in the Republic of Ireland
IHTM28102Canadian Income Tax
IHTM28110Future debts
IHTM28120Future payments incurred under s262
IHTM28130Gaming debts
IHTM28140Goods and services

Income Tax

IHTM28150Income Tax
IHTM28151Large Income Tax liabilities
IHTM28152Income Tax investigation settlements
IHTM28153Estimated Income Tax liabilities
IHTM28154Income Tax on the disposal of an 'offshore fund'
IHTM28155Income Tax on the disposal of deep discount securities
IHTM28156Income Tax on interest bearing securities
IHTM28157Income Tax on sums receivable following the discontinuance of a business
IHTM28158Income Tax payable on the death of a partner in a business
IHTM28159Ex-gratia payments of tax
IHTM28160Chargeable gains that give rise to an Income Tax liability when a life insurance policy matures

Inheritance tax

IHTM28170Inheritance tax
IHTM28171Contingent inheritance tax liability

Insurance premiums

IHTM28180Insurance premiums

Local authority payments

IHTM28190Local authority payments
IHTM28191Rates
IHTM28192Council Tax

Medical bills

IHTM28200Medical bills

Mortgages

IHTM28210Mortgages
IHTM28211Mortgages (doctrine of exoneration)
IHTM28220Necessaries
IHTM28240Property repairs
IHTM28250Redundancy payments
IHTM28260Rents payable in advance
IHTM28270Set-aside payments
IHTM28280Sums owed to NQ companies

Sums payable to third parties (contents)

IHTM28291Sums payable to third parties in England and Wales
IHTM28292Sums payable to third parties in Scotland
IHTM28293Extent to which sums payable to third parties are allowable

Uncashed cheques

IHTM28300Uncashed cheques

Click here to return to topInvestigating form IHT419

IHTM28311Purpose of the form

Loans from relatives and friends

IHTM28321Obtaining information about loans from friends and relatives
IHTM28322Investigating loans from friends and relatives
IHTM28323Is a loan from friends and family allowable?
IHTM28330Money spent on behalf of the deceased by a close friend or relative
IHTM28340Liabilities relating to an insurance policy

Guarantee debts

IHTM28351What is a guarantee debt?
IHTM28352Obtaining information about a guarantee debt
IHTM28353Consideration for a guarantee debt
IHTM28354Reimbursement of guaranteed debt
IHTM28355Calculating the allowable deduction for a guarantee debt
IHTM28356Lifetime transfers on guarantee debts
IHTM28357Lifetime transfers on guarantee debts called in and fully paid before death

Section 103 FA 1986 liabilities

IHTM28361Purpose of FA86/s103
IHTM28362How FA86/S103works?
IHTM28363How to identify and handle FA86/s103debts
IHTM28364Practical guidance on dealing with FA86/s103 debts
IHTM28365How FA86/S103 applies when the consideration is 'property derived from the deceased'?
IHTM28366How FA86/S103 applies when there is 'consideration given by any person whose resources at any time included property derived from the deceased'
IHTM28367Definition of property derived from the deceased for FA86/S103 purposes
IHTM28368When property derived from the deceased can be disregarded for FA86/S103 purposes?
IHTM28369Allowing part of a debt under FA86/S103 (2)
IHTM28370Double charges following disallowance of a debt under FA86/S103

Click here to return to topLaw relating to debts

IHTM28381Legal background
IHTM28382What is consideration?
IHTM28383Debts must be legally enforceable
IHTM28384Statute-barred debts
IHTM28385Right to reimbursement

Property against which deductions may be made

IHTM28391General rules for deducting liabilities against property
IHTM28392Deducting liabilities that are charged or fixed to specific property
IHTM28393Deducting business debts
IHTM28394Deducting foreign debts
IHTM28395Deducting liabilities where there is excluded property
IHTM28396Deducting UK debts when there is both UK and foreign property in the estate
IHTM28397Dealing with deficits