Tax on Property, Money and Shares you Inherit

Tax on Property, Money and Shares you Inherit

You must pay Inheritance Tax by the end of the sixth month after the person died.
 
Example:
 
If the person died in January, you must pay Inheritance Tax by 31 July.
 
There are different due dates if you are making payments on a trust. HM Revenue and Customs (HMRC) will charge you interest if you do not pay by the due date.

How to Pay

You will need to get a payment reference number before you can pay your Inheritance Tax bill.

Pay From Your own Bank Account

You can pay from your own bank account or a joint account with the deceased:
You can claim the money back from the deceased’s estate or the beneficiaries once you get a ‘grant of representation’ (also known as ‘probate’). This is called ‘confirmation’ in Scotland.

Pay from Accounts Owned by the Deceased

You can pay using the deceased’s:

If you do not Know How Much to Pay

You can make payments before you know the exact amount of Inheritance Tax owed by the deceased person’s estate. These are known as ‘payments on account’.

Check your Payment has Been Received

HMRC do not send receipts for each payment you make. They’ll write to tell you when you’ve paid all the Inheritance Tax and interest you owe.
 
If you’ve paid through your own bank or building society, check your statement to confirm the payment has left your account.

See Also:

For further information: