IHT419 Page 1 HMRC 01/18
Debts owed by the deceased
Schedule IHT419
Name of deceased
Date of death DD MM YYYY
IHT reference number (if known)
When to use this form
Fill in this form if you wish to deduct any of the following
from the value of the estate on form IHT400:
money that was spent on behalf of the deceased and
hasn’t been repaid
loans or overdrafts
liabilities related to a life assurance policy where the sum
assured isn’t fully reflected in the IHT400
debts that the deceased guaranteed on behalf of
another person
Include these debts on form IHT400, at box 80 or box 82,
as appropriate.
If the deceased died on or after 17 July 2013 there are
some conditions that must be met before a liability can be
deducted. The conditions are to do with:
what the borrowed money was used for
whether the money is actually repaid from the estate
If the liability doesn’t meet the conditions, it may not be
deducted from the estate.
The deduction can’t be allowed if:
the money was borrowed to acquire, maintain or enhance
excluded property - this applies whether the debt is actually
repaid or not
the money isn’t repaid from the estate
There are exceptions to this:
the excluded property has since been sold and the money
received is now liable to tax, or if the excluded property
itself has become liable to tax
there is a real commercial reason for not repaying the
debt, and not repaying the debt doesn’t give rise to a
tax advantage
If any of these exceptions apply say why you think so on this
form at box 6 on page 4 or in the additional information
boxes on pages 15 and 16 of the IHT400.
If a liability that can be allowed as a deduction was used to
acquire, enhance or maintain property that qualifies for:
Agricultural Relief
Business Relief
Woodlands Relief
and was incurred on or after 6 April 2013, you must deduct
that liability from the property concerned before working out
the amount of relief that is due.
More information about liabilities is available on page 49
of the IHT400 notes.
Gifts to, and loans from, the same person
In some cases, special rules apply where the deceased
has both borrowed money from someone and made a gift
to that same person. These types of debts owed by the
deceased are generally not allowed as deductions for
Inheritance Tax purposes.
For more information, phone our helpline on 0300 123 1072.
For information or help or another copy of this form:
• go to www.gov.uk/inheritance-tax
phone our helpline on 0300 123 1072
- if calling from outside the UK, phone
+44 300 123 1072
Did any person spend money on the deceased’s behalf, which is now being claimed as a deduction from the estate?
For example, paying domestic bills.
Yes If Yes, provide the following information about the money spent
Did the deceased have any outstanding loans, including loans from close friends and relatives?
Yes If Yes, provide the following information about loans and liabilities. Provide copies of any written evidence of the loan(s)
Name of lender Relationship to Date of loan State the purpose of the loan and Was the loan Original amount Amount outstanding
the deceased DD MM YYYY where the money is reflected in the secured on of the loan at the date of death
value of the estate any property? £ £
Money spent on the deceased’s behalf
Loans and liabilities
Name of the person who Relationship to What was the money Explain why the deceased’s own Explain why the money wasn’t repaid Amount spent
spent the money the deceased spent on? money was not used during the deceased’s lifetime £
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Are there any liabilities claimed that are related to a life assurance policy and/or an investment bond, where the value of the policy or bond
isn’t fully reflected elsewhere in the IHT400?
Yes If Yes, provide the following information. You must also provide a copy of the policy documents and any relevant trust or loan documents
Name of insurance company Amount owed Amount of sum assured,
shown in the deceased’s
estate (if none, write ‘Nil’)
£ £
Liabilities related to an insurance policy
Guaranteed debts
Did the deceased guarantee any debts on behalf of another person?
Yes If Yes, provide the following details. Provide a copy of any written evidence
Name of the person whose Relationship to Was the deceased If No, explain why you think the loan Amount of debt
debts were guaranteed the deceased called upon to should be deducted from the estate guaranteed
repay the loan? £
Did the deceased make a gift to someone after 18 March 1986, and at any time after that gift, borrow money from that same person?
Yes If Yes, provide the following details.
Gifts If the gift has already been described on form IHT403 Gifts and other transfers of value, you need only give us enough information to identify the gift concerned
Date of gift Name of person to whom the gift was made Description of the assets comprised in the gift Assets value at gift date
Loans Provide copies of any written evidence of the loan(s).
If the loan has already been described at box 2 of this form, you need only give us enough information to identify the gift concerned
Date of loan Amount of loan
Amounts and dates of any payments What did the deceased use the money for and
where is it reflected in the estate?
Give us any other information that you think we need to know
Gifts to and loans from the same person
Additional information
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