IHTM10803 | Accountability: time limits

The normal time limit for delivering an account is

• twelve months from the end of the month in which the transfer is made, or

• if later, three months from the date when the accountable person first becomes liable for the tax.

The rule is modified for

• transfers that arise on death (IHTM10811)

• potentially exempt transfers (PETs) (IHTM10821)

• gifts with reservations (GWRs) (IHTM10824)

• relevant property trust charges that arise on or after 6 April 2014 (IHTM10836)

Penalties (IHTM36021) may be chargeable if an account is not delivered within the statutory time limit. There are also penalties for failing to deliver an account (IHTM36081).