IHTM14874 - Future payments:
payments outstanding at death
Where the transferor dies before the payments are finally made,
it falls upon the lprs (
IHTM05012) to complete the series.
You can
- give an allowance in valuing the
transferor’s estate immediately before the death for the
non-gratuitous part of the remaining payments,
but
- charge tax on the gratuitous portion.
Review the separate instructions at the liabilities section of
the manual. (
IHTM28110)
