IHTM28000 - Liabilities: contents

Introduction
Investigating liabilities
Investigating form IHT419
Law relating to debts

Introduction

IHTM28001 Summary
IHTM28010 General background to deducting liabilities

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Investigating liabilities

IHTM28030 General principles
IHTM28040 Accountants and solicitors fees

Annuities

IHTM28050 Annuities
IHTM28051 Payment of annuity is the personal responsibility of the deceased or transferor
IHTM28052 Annuitant can insist that capital is set aside to meet annuity

Capital gains tax

IHTM28060 Capital Gains Tax (CGT)
IHTM28061 Link between CGT liability and assets in the estate

Contingent liabilities

IHTM28070 Contingent liabilities

Costs & commissions

IHTM28080 Costs & commissions
IHTM28081 Costs of sale (general)
IHTM28082 Costs of receiver/deputy for a person lacking capacity
IHTM28083 Costs of discharge of Curator Bonis
IHTM28084 Costs of Agents' commission for recovery of an asset

Divorce and separation payments

IHTM28090 Separation, divorce or dissolution of a civil partnership payments
IHTM28091 Annuities payable on separation, divorce or dissolution of a civil partnership
IHTM28092 Claims for financial relief for divorce under the Matrimonial Causes Act or dissolution of a civil partnership under the Civil Partnership Act 2004
IHTM28093 Claims for financial relief under the Family Law (Scotland) Act 1985 or Civil Partnership Act 2004
IHTM28094 Interim maintenance orders ceasing on the deceased's death

Foreign taxes

IHTM28100 Overseas taxes
IHTM28101 Deduction for tax debts in the Republic of Ireland
IHTM28102 Canadian Income Tax
IHTM28110 Future debts
IHTM28120 Future payments incurred under s262
IHTM28130 Gambling debts
IHTM28140 Goods and services

Income Tax

IHTM28150 Income Tax
IHTM28151 Large Income Tax liabilities
IHTM28152 Income Tax investigation settlements
IHTM28153 Estimated Income Tax liabilities
IHTM28154 Income Tax on the disposal of an 'offshore fund'
IHTM28155 Income Tax on the disposal of deep discount securities
IHTM28157 Income Tax on sums receivable following the discontinuance of a business
IHTM28158 Income Tax payable on the death of a partner in a business
IHTM28159 Voluntary payments of tax
IHTM28160 Chargeable gains that give rise to an Income Tax liability when a life insurance policy matures

Inheritance tax

IHTM28170 Inheritance tax
IHTM28171 Contingent inheritance tax liability

Insurance premiums

IHTM28180 Insurance premiums

Local authority payments

IHTM28190 Local authority payments
IHTM28191 Rates in Northern Ireland
IHTM28192 Council Tax

Medical bills

IHTM28200 Medical bills

Mortgages

IHTM28210 Mortgages
IHTM28240 Property repairs
IHTM28250 Redundancy payments
IHTM28260 Rents payable in advance
IHTM28270 Set-aside payments
IHTM28280 Sums owed to unlisted companies

Sums payable to third parties

IHTM28291 Sums payable to third parties in England and Wales
IHTM28292 Sums payable to third parties in Scotland
IHTM28293 Extent to which sums payable to third parties are allowable

Uncashed cheques

IHTM28300 Uncashed cheques

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Investigating form IHT419

IHTM28311 Purpose of the form

Loans from relatives and friends

IHTM28321 Obtaining information about loans from friends and relatives
IHTM28322 Investigating loans from friends and relatives
IHTM28323 Is a loan from friends and family allowable?
IHTM28330 Money spent on behalf of the deceased by a close friend or relative
IHTM28340 Liabilities relating to an insurance policy s

Guarantee debts

IHTM28351 What is a guarantee debt?
IHTM28352 Obtaining information about a guarantee debt
IHTM28353 Consideration for a guarantee debt
IHTM28354 Reimbursement of guaranteed debt
IHTM28355 Calculating the allowable deduction for a guarantee debt
IHTM28356 Lifetime transfers on guarantee debts
IHTM28357 Lifetime transfers on guarantee debts called in and fully paid before death

Section 103 FA 1986 liabilities

IHTM28361 Purpose of FA86/s103
IHTM28362 How FA86/S103works?
IHTM28363 How to identify and handle FA86/s103debts
IHTM28364 Practical guidance on dealing with FA86/s103 debts
IHTM28365 How FA86/S103 applies when the consideration is 'property derived from the deceased'
IHTM28366 How FA86/S103 applies when there is 'consideration given by any person whose resources at any time included property derived from the deceased'
IHTM28367 Definition of property derived from the deceased for FA86/S103 purposes
IHTM28368 When property derived from the deceased can be disregarded for FA86/S103 purposes?
IHTM28369 Allowing part of a debt under FA86/S103 (2)
IHTM28370 Double charges following disallowance of a debt under FA86/S103

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Law relating to debts

IHTM28381 Legal background
IHTM28382 What is consideration?
IHTM28383 Debts must be legally enforceable
IHTM28384 Statute-barred debts
IHTM28385 Right to reimbursement

Property against which deductions may be made

IHTM28391 General rules for deducting liabilities against property
IHTM28392 Deducting liabilities that are charged or fixed to specific property
IHTM28393 Deducting business debts
IHTM28394 Deducting foreign debts
IHTM28395 Deducting liabilities where there is excluded property
IHTM28396 Deducting UK debts when there is both UK and foreign property in the estate
IHTM28397 Dealing with deficits

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