agents fess on disposale to raise IHT funds

[arthursixpence]

Hi
I have a situation where the only asset in the estate is the property...no other funds etc.
The value of this is over the IHT threshold.
So to pay the IHT I plan to sell the property.
Property is to go to myself and Im also the executor...no one else involved.

Now the ???
Because I have to sell the property to settle the IHT payment can I claim the Estate Agents selling fee against the IHT liability ?

I will be using my solicitor to handle all this but want to go into the meeting armed with as much knowledge as possible.

cheers.

[King_Maker]

There is no need to sell the property, if you don't want to.

You have 2 options :

1. IHT in respect of land/property can be paid in 10 equal annual instalments. Interest is chargeable. The arrangement would cease on sale.

2. Arrange a loan to pay the IHT.

If you do sell, the sale price would normally be the basis for IHT -although you may have to estimate it, if the sale is taking a long time. Estate Agents' fees are not included.