Inheritance Tax Payment

[David H]

I have reached the point where I am paying the IHT on my late father's estate. I have my tax reference number and calculated the amount. Unfortunately there is nothing either in their letter or website what to do next, they don't take emails and the phone number is overwhelmed, so will place it here.

The simple method is by bank transfer, and I presume I will use the same reference in the payment, and if I make a mistake I know they refund any excess. Do I simply go ahead and pay it now or is there another step/s I need to take first?

[TheWinner]

https://www.gov.uk/paying-inheritance-tax

[ToraToraTora]

I'd put it in a savings account and wait for them to ask for it.

[ToraToraTora]

... I meant to say and pay it once the 6 months is up if they don't ask for it.

[Peter Pedant]

the winner wins!

yeah you need to make sure that you pay into the right acct no or else they deem it not paid ( and fine you whilst assuring you that the system is meant to work like this!)

actually once you do it - you can reflect it isnt THAT bad
but learning it was a bit fraught

[Peter Pedant]

// I'd put it in a savings account and wait for them to ask for it.//
no dont - as so often on AB - you will get really crap advice masquerading as good honest down to earth common sense

this one you have to volunteer - as you probably know

[David H]

I have their account details and the reference number, and a recommendation to pay electronically, plus unless I accidentally put in the wrong details any cockups will be rectified by them. I will go ahead thanks to your advice.

[David H]

Thanks, I spoke to the bank and they helped me through it. How long do they usually take (covid permitting) to let you know if it's the correct amount?

[THECORBYLOON]

When I make a transfer on my HSBC account through their app, it does a check to make sure the name of the account matches the other details.

It's not able to do that with certain banks but I would think it would with a Government account.

Does yours not do the same?

[David H]

Mine had the exact details for them on their drop down menu. I expect they have to do due diligence just in case despite confirmation it is a government account. Maybe they know more about it.

[David H]

I finally got through many months after my payment and they said they have money on account for me and would sort it out right away. By the time I thought of any questions we finished the call. The amount was not what I paid and I presume it means they are holding an overpayment? How long does it normally take to refund them once it's been worked out?