Who must account to HMRC for inheritance tax, which beneficiaries ultimately bear it, and when and how the money actually has to be paid.
Calculating the tax is only half the task — the rules then decide who pays it, who suffers it, and on what timetable. This chapter separates liability from incidence: first identifying who must account to HMRC for tax on the death estate, survivorship property, failed PETs and lifetime chargeable transfers, along with the limits and clearance protections for personal representatives; then the default rules on which part of the estate bears the burden, and how a testator can vary them. It moves on to due dates and the practical problem of finding funds before the grant, including the Direct Payment Scheme, and the instalment option for qualifying property such as land. It closes with excepted estates, the reporting routes available, and the deadlines and corrective duties attached to the IHT400.
