IHT Direct Payment Scheme - timescales

richardw

I'm curious about how this works in practise.

It seems that it is a paper situation and electronic payment may not be possible, are any banks part of an online system with HMRC?

Does the payment slow if there is more than one account at the same bank for where the monies are paid from?

If it's a mix of payments from accounts at differing Banks, BSocs and NS&I can the total IHT payment settlement take much longer?

Any rough time approximations for how slow this is would be appreciated. TIA.

SoozyJ22

I used the Direct Payments scheme this year with 3 x building societies (one with two accounts) plus various NS&I accounts/bonds. All payments were made to HMRC within a few days (less than a week) of the organisations receiving the IHT423 forms. Everyone sent a letter to confirm the payments had been made, though one didn't reach me and a quick phone call was needed to confirm.

I received the letter with the code for probate by email a few days after the final payment had been made, though that may have been coincidence that the IHT forms were processed by HMRC at the same time as the payments were received. 

richardw

Thanks, that's not too bad really.