Commentary

I8.228 Foreign debts and expenses

IHT, trusts and estates

I8.228 Foreign debts and expenses

I8.228 Foreign debts and expenses

IHTA 1984, s 162(5) requires foreign debts to be deducted from the value of foreign property in determining the value of a person's estate (provided the debt has not been taken into account as a liability to finance certain other relievable property1, see I3.231), and it is HMRC practice to deduct debts in a country from assets in that country whenever possible (see I3.234). An allowance is made against the value of property situated outside the UK for any additional expenses of administration or realisation of the property over and above what it would have

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