Paying inheritance tax in instalments

OlManRiver

HI,

I need to sell a property to be able to pay for the inheritance tax that is due on the estate - the property forms the vast majority of the estate. If I choose to pay in instalments then is it just a straight split into 10 equal amounts? Is it possible:
1) to pay more than a tenth at the outset?
2) to pay off more of it before the next instalment becomes due?
3) If I borrowed money to cover the inheritance tax and paid it off prior to the house being sold then would it be ok to claim the interest on the loan from the estate as well as the capital once the house is sold?

Many thanks

Keep_pedalling

I. Yes
2. Yes, you can clear the whole lot anytime after the 1st instalment, ant it will save you interest if you do. 

3. Yes, but it would only be worth doing if the interest rate was lower than the interest you have to pay HMRC which I think is currently around 7.6%

OlManRiver

Many thanks Keep_pedalling, that's very useful to know.

On the second point, I was also wondering if you can pay more of what's due whenever you like, but not the whole amount - or is you're only option to either pay everything or wait to the next instalment?

Keep_pedalling

OlManRiver said:

Many thanks Keep_pedalling, that's very useful to know.

On the second point, I was also wondering if you can pay more of what's due whenever you like, but not the whole amount - or is you're only option to either pay everything or wait to the next instalment?

No, you can pay before the next instalment is due, and pay more than the minimum required.