Inheritance tax - paying in instalments and interest

What_time_is_it

2 questions about IHT:

1. Can anybody apply to pay off IHT in instalments? Basically, if we have a house to sell and it won't be sold before the 6 months since date of death is up, can we offer to pay the IHT due in instalments? Or do we need a specific reason?

2. When do interest charges kick in? The .gov website says that no interest is due on the first instalment. But what does that mean? If you have 10 instalments to pay off £100k, and the 1st instalment has to be paid by 31st August 2023, is interest charged on the remaining £90k immediately from 1st September 2023? Or is there a period of time where no interest is charged?

Thanks!

[Deleted User]

What_time_is_it said:

2 questions about IHT:

1. Can anybody apply to pay off IHT in instalments? Basically, if we have a house to sell and it won't be sold before the 6 months since date of death is up, can we offer to pay the IHT due in instalments? Or do we need a specific reason?

2. When do interest charges kick in? The .gov website says that no interest is due on the first instalment. But what does that mean? If you have 10 instalments to pay off £100k, and the 1st instalment has to be paid by 31st August 2023, is interest charged on the remaining £90k immediately from 1st September 2023? Or is there a period of time where no interest is charged?

Thanks!

Good article here:

https://www.girlings.com/latest/what-happens-if-you-cant-afford-inheritance-tax-iht

What_time_is_it

Thanks @[Deleted User]. Really useful and succinct info.
Still not sure about my question 2 though. I suspect in the example I gave that interest would be charged on the remaining £90k straight away? As opposed to no interest being charged until the second instalment is due (a year further down the line?)

Jeremy535897

There is a calculator in this link:
https://www.gov.uk/paying-inheritance-tax/yearly-instalments