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Inheritance tax form IHT419 'Liabilities related to an insurance policy'
share_the_good
Posts: 2 Newbie
Hello forum members. I am struggling with what I think is a simple concept. I am completing an IHT400 form for my late Mum, but I can't get my head around a section of IHT419 'Liabilities related to an insurance policy'. Can someone give me a simple example of two of what that might be, please?
I'm probably mentally confusing the item with a couple of assets (one being a life assurance policy) that have given rise to 'chargeable events' on death, but I think I can see where to report those in IHT400 and I'm talking to HMRC about those anyway.
Any assistance appreciated.
I'm probably mentally confusing the item with a couple of assets (one being a life assurance policy) that have given rise to 'chargeable events' on death, but I think I can see where to report those in IHT400 and I'm talking to HMRC about those anyway.
Any assistance appreciated.
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Comments
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Hi. For anyone looking in, I've been able to resolve this now ,thank you.0
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With some Life insurances you can have a loan against the insurance, so you may have a £50,000 whole life policy and take a £10,000 loan against it then it would need to be declared here0
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