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Contents

Official guidance

Inheritance Tax Manual

IHTM30000 · Liability and payment of tax

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IHTM30001 · Introduction
IHTM30011 · Liability: introduction
IHTM30021 · Liability on death transfers: the persons liable
IHTM30022 · Liability on death transfers: other unsettled property (except GWRs)
IHTM30023 · Liability on death transfers: settled property in which deceased had a qualifying interest in possession
IHTM30024 · Liability on death transfers: succession in Scotland
IHTM30025 · Liability on death transfers: interests under superannuation schemes
IHTM30026 · Liability on death transfers: priorities
IHTM30031 · Definition and extent of liability: personal representatives
IHTM30032 · Definition and extent of liability: extent of a personal representative's liability
IHTM30033 · Definition and extent of liability: nature of a personal representative's liability
IHTM30034 · Definition and extent of liability: trustees
IHTM30035 · Definition and extent of liability: persons liable under IHTA84/S200 (1)(c)
IHTM30036 · Definition and extent of liability: persons excluded
IHTM30037 · Definition and extent of liability: property settled before the death
IHTM30038 · Definition and extent of liability: particular situations
IHTM30039 · Definition and extent of liability: policies effected by a person who dies domiciled outside the UK
IHTM30041 · Liability on potentially exempt transfers (PETs): persons liable
IHTM30042 · Liability on potentially exempt transfers (PETs): priorities
IHTM30043 · Liability on potentially exempt transfers (PETs): recourse to transferor's personal representatives
IHTM30044 · Liability on potentially exempt transfers (PETs): practice relating to personal representatives
IHTM30051 · Definition and extent of liability (PETs): transferee
IHTM30052 · Definition and extent of liability (PETs): persons liable under IHTA84/S199 (1)(c)
IHTM30053 · Definition and extent of liability (PETs): persons excluded
IHTM30054 · Definition and extent of liability (PETs): objects of a relevant property trust
IHTM30061 · Liability on lifetime transfers chargeable when made: introduction
IHTM30062 · Liability on lifetime transfers chargeable when made: persons liable
IHTM30071 · Definition and extent of liability (lifetime transfers chargeable when made): transferor
IHTM30072 · Definition and extent of liability (lifetime transfers chargeable when made): extent of liability of persons secondarily liable
IHTM30073 · Definition and extent of liability (lifetime transfers chargeable when made): spouse or civil partner of transferor
IHTM30074 · Definition and extent of liability (lifetime transfers chargeable when made): limitation on spouse's or civil partner's liability
IHTM30081 · Liability on gifts with reservation (GWRs): introduction
IHTM30082 · Liability on gifts with reservation (GWRs): persons liable when treated as a PET
IHTM30083 · Liability on gifts with reservation (GWRs): persons liable when treated as part of death estate
IHTM30084 · Liability on gifts with reservation (GWRs): definition and extent of liability
IHTM30091 · Liability on settled property: persons liable
IHTM30101 · Definition and extent of liability (settled property): trustees
IHTM30102 · Definition and extent of liability (settled property): persons other than trustees
IHTM30103 · Definition and extent of liability (settled property): beneficiaries
IHTM30104 · Definition and extent of liability (settled property): recipients of benefit
IHTM30111 · The settlor: definitions
IHTM30112 · The settlor: limitations on settlor's liability
IHTM30113 · The settlor: PETs
IHTM30114 · The settlor: death charge on lifetime transfers chargeable when made
IHTM30115 · The settlor: settlement made before 11 December 1974
IHTM30121 · Liability in special cases: heritage property
IHTM30122 · Liability in special cases: discretionary trust charges and heritage property
IHTM30123 · Liability in special cases: woodlands
IHTM30124 · Liability in special cases: transfers by a close company
IHTM30125 · Liability in special cases: liability of purchaser
IHTM30140 · General payment rule
IHTM30151 · Due date for payment: death transfers
IHTM30152 · Due date for payment: other charges arising on death
IHTM30153 · Due date for payment: lifetime transfers chargeable when made
IHTM30154 · Due date for payment: relevant property trusts
IHTM30155 · Due date for payment: conditionally exempt property
IHTM30156 · Due date for payment: woodlands
IHTM30157 · Due date for payment: payment before due date
IHTM30158 · Due date for payment: request to pay in advance
IHTM30159 · Due date for payment: postponing payment
IHTM30171 · Tax payable on taking out of grant: Inheritance tax rates
IHTM30172 · Tax payable on taking out of grant: non-instalment option property
IHTM30181 · Payment methods: payment by cheque
IHTM30182 · Payment methods: payment by electronic transfer
IHTM30183 · Payment methods: payment by national savings or government stock
IHTM30184 · Payment methods: payment by IHT direct payment scheme
IHTM30185 · Payment methods: payment by transfer of land or chattels
IHTM30186 · Payment methods: payment by certificates of tax deposit
IHTM30187 · Payment methods: payment out of tax repayments
IHTM30191 · Instalment option: introduction
IHTM30201 · Payment by instalments: when instalments are payable
IHTM30202 · Payment by instalments: election
IHTM30203 · Payment by instalments: request to elect for instalments after tax paid in one sum
IHTM30204 · Payment by instalments: option where additional tax payable
IHTM30211 · Transfers on death: introduction
IHTM30212 · Transfers on death: categories of qualifying property
IHTM30213 · Transfers on death: land
IHTM30214 · Transfers on death: businesses and interests in businesses
IHTM30215 · Transfers on death: shares and securities
IHTM30216 · Transfers on death: meaning of 'unquoted' for instalments
IHTM30217 · Transfers on death: control holdings of shares and securities
IHTM30218 · Transfers on death: unquoted shares - undue hardship
IHTM30219 · Transfers on death: unquoted shares - 20% tax test
IHTM30220 · Transfers on death: unquoted shares - £20,000 value and 10% nominal value test
IHTM30231 · Potentially Exempt Transfers (PETs): deaths before 17 March 1987
IHTM30241 · Transfers and other events on or after 17 March 1987: the conditions
IHTM30242 · Transfers and other events on or after 17 March 1987: unquoted shares
IHTM30243 · Transfers and other events on or after 17 March 1987: settled property
IHTM30244 · Transfers and other events on or after 17 March 1987: the transferee
IHTM30251 · Qualifying property (PETs): land
IHTM30252 · Qualifying property (PETs): businesses and interests in businesses
IHTM30253 · Qualifying property (PETs): control holdings
IHTM30254 · Qualifying property (PETs): unquoted shares or securities - undue hardship
IHTM30255 · Qualifying property (PETs): unquoted shares or securities - 20% tax test
IHTM30256 · Qualifying property (PETs): unquoted shares or securities - £20,000 value and 10% nominal value
IHTM30261 · Lifetime transfers chargeable when made: introduction
IHTM30262 · Lifetime transfers chargeable when made: tax immediately payable
IHTM30263 · Lifetime transfers chargeable when made: additional tax payable on death of transferor
IHTM30264 · Lifetime transfers chargeable when made: previous legislation and lifetime transfers
IHTM30265 · Lifetime transfers chargeable when made: qualifying property
IHTM30271 · Gifts with reservation: deceased's residence
IHTM30272 · Gifts with reservation: other qualifying property
IHTM30281 · Lifetime cesser of a qualifying interest in possession: introduction
IHTM30282 · Lifetime cesser of a qualifying interest in possession: cesser a PET
IHTM30283 · Lifetime cesser of a qualifying interest in possession: cesser taxable when made
IHTM30290 · Instalment option: relevant property trusts
IHTM30300 · Instalment option: woodlands
IHTM30311 · Attribution process: introduction
IHTM30312 · Attribution process: lifetime transfers
IHTM30313 · Attribution process: death estate
IHTM30321 · End of instalment option: introduction
IHTM30322 · End of instalment option: meaning of 'sold'
IHTM30323 · End of instalment option: underwriting interests
IHTM30324 · End of instalment option: chargeable transfers otherwise than on death
IHTM30341 · Interest: introduction
IHTM30351 · Rates of interest: background
IHTM30352 · Rates of interest: the rates
IHTM30353 · Rates of interest: the higher and lower rates before 16 December 1986
IHTM30361 · Interest period: general rule
IHTM30362 · Interest period: instalments without interest relief
IHTM30363 · Interest period: instalments with interest relief
IHTM30371 · Special rules: Inheritance (Provision for Family & Dependants) Act 1975
IHTM30372 · Special rules: voidable transfers
IHTM30373 · Special rules: property accepted in satisfaction of tax
IHTM30374 · Special rules: Scotland - legitim
IHTM30375 · Special rules: settled property - sales and mortgages of reversionary interests
IHTM30401 · Adjustment of tax paid: underpayments
IHTM30402 · Adjustment of tax paid: repayments
IHTM30411 · Reopening IHT liabilities: introduction
IHTM30412 · Reopening IHT liabilities: procedure
IHTM30421 · Reconsideration of value: introduction
IHTM30431 · Reconsideration by taxpayers: bars to reopening value
IHTM30432 · Reconsideration by taxpayers: changed circumstances
IHTM30433 · Reconsideration by taxpayers: valuations by SAV
IHTM30434 · Reconsideration by taxpayers: land and buildings
IHTM30435 · Reconsideration by taxpayers: decrease requested
IHTM30441 · Reconsideration by HMRC: general rules
IHTM30442 · Reconsideration by HMRC: agreements
IHTM30443 · Reconsideration by HMRC: Valuation Office Agency
IHTM30444 · Reconsideration by HMRC: Shares and Assets Valuation
IHTM30445 · Reconsideration by HMRC: effect of a sale
IHTM30451 · Determination of questions on previous view of the law: scope of IHTA84/S255
IHTM30452 · Determination of questions on previous view of the law: HMRC law
IHTM30453 · Determination of questions on previous view of the law: disputed cases
IHTM30454 · Determination of questions on previous view of the law: payment and acceptance of tax
IHTM30455 · Determination of questions on previous view of the law: delay by HMRC
IHTM30456 · Determination of questions on previous view of the law: instalment cases
IHTM30457 · Determination of questions on previous view of the law: amendments after the change of practice
IHTM30461 · Limitation of liability by lapse of time: statutory provisions
IHTM30462 · Limitation of liability by lapse of time: time limits for recovery of unpaid tax
IHTM30463 · Limitation of liability by lapse of time: provisional calculations
IHTM30464 · Limitation of liability by lapse of time: property in the hands of purchasers
IHTM30465 · Limitation of liability by lapse of time: offshore matter and offshore transfers
IHTM30501 · Remissions: introduction
IHTM30502 · Remissions: distinction between remissions and irrecoverable assessments
IHTM30503 · Remissions: when a claim may be discharged
IHTM30531 · Compromise cases: points of law
IHTM30532 · Compromise cases: unenforceable claims
IHTM30533 · Compromise cases: assessments
IHTM30534 · Compromise cases: reference to Debt Management & Banking
IHTM30551 · Erroneous or excessive repayments of tax: over-repayments to be reported
IHTM30552 · Erroneous or excessive repayments of tax: repayment of deposits
IHTM30553 · Erroneous or excessive repayments of tax: recovery procedures
IHTM30554 · Erroneous or excessive repayments of tax: interest supplement
IHTM30521 · Remission of interest: introduction
IHTM30522 · Remission of interest: delay cases (Code of Practice)
IHTM30523 · Remission of interest: procedure in delay cases
IHTM30524 · Remission of interest: guidelines in delay cases

Liability and payment of tax: contents
Qualifying property (PETs): land

IHTM30251 | Qualifying property (PETs): land

From HM Revenue & Customs · Inheritance Tax Manual

The conditions are the same as with transfers on death (IHTM30213).