There are some overall limits on the liability of personal representatives, trustees and beneficiaries set out in IHTA 1984, s 204. There are, however, no limits on the liability of the transferor arising on a chargeable lifetime transfer1
Limitation of liability—personal representatives on death transfer2
A personal representative3 is only liable for the IHT due on a chargeable transfer on death to the extent that it is attributable to:
- Ìý
•ÌýÌýÌýÌý UK land which, immediately before the death, was comprised in a settlement and is at any time available in the personal representative's hands for the payment of IHT or might have been so available but for their own neglect or default; and
- Ìý
•ÌýÌýÌýÌý the value of any other assets received as personal representative or might have so received but for their own neglect or default
Example 1
Mary, who was domiciled in the UK, died in June 2021 with a free estate consisting of UK property valued at £200,000. In addition she held foreign property valued at £600,000. Foreign personal
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Web page updated on 17 Mar 2025 17:05