IHTM36334 | Letters of offer: using precise terms
From HM Revenue & Customs · Inheritance Tax Manual
The letter of offer is intended to form the basis for a legally binding contract withterms that cannot subsequently be disputed. It should not, for example, contain
any unacceptable terms such as ‘I reserve the right to reopen this offer if ……….’
any uncertain terms such as ‘I shall pay the sum of £x as soon as I can’
any conditional terms such as ‘if I can sell my house for £y’.
It can be misleading to refer to duties as being unpaid if they are wholly covered bypayments on account. Such duties can be described as ‘ … which wereunpaid…’.