.png)
.png)
Forever in your debt
At the risk of stating the obvious the starting point for a charge to inheritance tax is for a chargeable transfer to take place. This can happen at various points; for example a transfer out of a close company a transfer into or out of a relevant property trust ten years from the creation of a relevant property trust or a gift to an individual where the donor does not survive seven years from the date of gift. However the most familiar chargeable transfer is on death and this is a fitting starting point to explore the deductibility of debts for inheritance tax purposes.
Quantify the death estate
The basic rule for what constitutes the death estate is found unsurprisingly quite close to the beginning of the inheritance tax legislation. IHTA 1984 s 5(1) confirms: ‘For the purposes of this...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
