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Finance Act 2014

Delivery of account and payment of tax

34.The time limits for reporting IHT periodic and exit charges arising under chapter 3 part 3 of IHTA that trustees are accountable for differ from the time limits for paying any IHT due under chapter 3 part 3 IHTA.

35.The time limit for delivering an account is currently 12 months from the end of the month in which the transfer is made or if later, three months from the date when the trustee first becomes liable for the tax.

36.The time limits for paying IHT charges are:

  • For chargeable events after 5 April and before 1 October, on 30 April in the following year, and

  • for chargeable events after 30 September and before 6 April, six months after the end of the month in which the chargeable event took place.

37.This change aligns and simplifies the filing and payment dates for these charges.

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