Understanding the inheritance tax accounts system

Key points

• Inheritance tax has its own administrative system not to be confused with the self-assessment system for income tax.
• HMRC has the right ‘to demand payment of an amount’.
• The Inland Revenue charge is imposed by IHTA 1984 s 237.
• The duty to deliver an inheritance tax account can apply to various persons.
• No limitation period applies if a loss of tax was deliberate.

Those who deal regularly with self-assessment returns and only occasionally with submitting inheritance tax accounts might easily assume that the self-assessment administrative system of returns enquiries information notices assessments limitation periods and appeals also applies in essence to this tax. It does not; inheritance tax has had its own administrative system ...