Commentary

I11.543 Income tax relief for interest paid on a loan to pay IHT

IHT, trusts and estates

I11.543 Income tax relief for interest paid on a loan to pay IHT

I11.543 Income tax relief for interest paid on a loan to pay IHT

Interest on a loan to the personal representatives of a deceased person is eligible for income tax relief (subject to a one-year restriction) if the loan is applied1:

  1.  

    •     in paying, before the grant of representation, IHT attributable to personal property to which the deceased was beneficially entitled immediately before his death and which vests in the personal representatives or would vest in them if it were situated in the UK, or

  2.  

    •     in paying off another loan where relief could have been

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