Commentary

E1.830A Qualifying loan interest—loan taken out by personal representatives to pay inheritance tax

Personal and employment tax

E1.830A Qualifying loan interest—loan taken out by personal representatives to pay inheritance tax

E1.830A Qualifying loan interest—loan taken out by personal representatives to pay inheritance tax

Introduction

The commentary below discusses relief available for interest paid by personal representatives where they take out a loan to pay the inheritance tax liability of the estate. This should be read in conjunction with E1.820, which includes details about general restrictions that apply to all qualifying loans and the mechanism by which relief is given.

Loan to pay inheritance tax

Interest is eligible for relief if it is on a loan to personal representatives which is used1:

  1.  

    (a)     in paying inheritance tax that they are obliged to

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