Inheritance Tax - Admin/Due Dates

Question 1

delivery of accounts?

Answer 1

refers to the date on which you deliver your accounts to HMRC

so they can deem the IHT payable

Question 2

due date for delivery of accounts for a CLT?

Answer 2

12 months after the end of month in which the transfer occurred

Question 3

due date for delivery of accounts for a PET?

Answer 3

12months after the end of the month in which the death occurred

Question 4

due date for delivery of accounts for a transfer on death?

Answer 4

12 months after the end of the month in which the death occurred

Question 5

due dates for payments?

Answer 5

refers to the date that payment is due for IHT

Question 6

due dates for payments of CLTs between 6Apr and 30Sep (first half of the tax year)

Answer 6

30Apr in following year

Question 7

due date for payment for CLTs between 1Oct and 5Apr? (2nd half of the year)

Answer 7

six months after the end of the month in which the transfer was made

Question 8

due date for payments on PETs which become chargeable?

Answer 8

six months after the end of the month in which the death occurred

Question 9

due dates for payment of transfers on death?

Answer 9

six months after the end of the month in which the death occurred

or on delivery of accounts (if earlier)

Question 10

failure to deliver an IHT account leads to…?

Answer 10

penalty