Our partners Kings Court Trust approached us for help in a case that had been at a stalemate since 2018. The estate, worth more than £2m, was locked until the inheritance tax of £500,000 could be settled.
An agreement was made with HMRC that the tax could be paid in instalments – the first of which being a £140,000 payment via the IHT Loan. This payment allowed probate to be granted, and in turn enabled the beneficiaries to sell the properties within the estate to release the remaining funds needed to settle the tax bill in full.
IHT Loan helps executors (or personal representatives if there’s no will) with estates where there is an Inheritance Tax (IHT) liability to pay but no funds available, and it is holding up the legal process.