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Paying Inheritance Tax
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sunsetboulevard
Posts: 140 Forumite
I have recently sent off IHT400 form and associated schedules. But I'm now totally baffled. Have just realised that I need to send off a cheque or something to pay the tax.
On the actual IHT400 form I left the IHT calculation box blank so the inheritance tax people could work out how much I owe. I wasn't sure how to calculate it with a gift having been made by the deceased several years ago. Also, the deceased had paid income tax on some savings accounts and not others, and some accounts I could not get proper closing balances on until probate has been obtained so some of the figures on the forms are estimates. (Hope this makes some sort of sense)!
Anyway, deceased died middle of September 2012 so if I'm correct I have until the end of March 2013 to make necessary payment. Will they actually write to me to tell me how much I owe or am I just expected to send them a payment based on a guess? Was I supposed to have sent this payment at the same time as I sent the above forms? Whoops!
Any advice would be much appreciated.
On the actual IHT400 form I left the IHT calculation box blank so the inheritance tax people could work out how much I owe. I wasn't sure how to calculate it with a gift having been made by the deceased several years ago. Also, the deceased had paid income tax on some savings accounts and not others, and some accounts I could not get proper closing balances on until probate has been obtained so some of the figures on the forms are estimates. (Hope this makes some sort of sense)!
Anyway, deceased died middle of September 2012 so if I'm correct I have until the end of March 2013 to make necessary payment. Will they actually write to me to tell me how much I owe or am I just expected to send them a payment based on a guess? Was I supposed to have sent this payment at the same time as I sent the above forms? Whoops!
Any advice would be much appreciated.
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http://www.hmrc.gov.uk/payinghmrc/inheritance.htm
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