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Home / Simons-Taxes / IHT, trusts and estates / Part I9 Foreign element / Division I9.4 Locality (situs) of assets for IHT / Situs of debts for IHT / I9.421 Situs of simple contract debts for IHT

I9.421 Situs of simple contract debts for IHT

IHT, trusts and estates

I9.421 Situs of simple contract debts for IHT

General rule

The general rule is that a simple contract debt is situated in the country where the debtor resides, because that is the place where it can be recovered¹. It makes no difference that the debt is expressly made payable in a country where the debtor has

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