SCHEDULES

SCHEDULE 53 U.K. Late payment interest

Commencement Information

I1 Sch. 53 in force at 31.8.2010 for specified purposes by S.I. 2010/1878, art. 2 (with art. 3)

I2 Sch. 53 in force at 6.10.2011 for specified purposes by S.I. 2011/2391, art. 2(c)

I3 Sch. 53 in force at 31.10.2011 for specified purposes by S.I. 2011/701, art. 3(1) (with art. 4)

I4 Sch. 53 in force at 1.2.2013 for specified purposes by S.I. 2013/67, art. 2

I5 Sch. 53 in force at 1.4.2013 for specified purposes by S.I. 2013/280, art. 2

Part 3 U.K. Special provision: date to which late payment interest runs

Property accepted in lieu of inheritance tax U.K.

14 U.K. If, in the case of any amount of inheritance tax—

(a) HMRC agree under section 230 of IHTA 1984 to accept property in satisfaction of the amount, and

(b) under terms of that acceptance the value to be attributed to the property for the purposes of the acceptance is determined as at a date earlier than that on which the property is actually accepted,

the terms may provide that the amount of tax which is satisfied by the acceptance of the property does not carry late payment interest after that date.