IHTM10803 - Accountability: time limits

The normal time limit for delivering an account is

• twelve months from the end of the month in which the transfer is made, or
• if later, three months from the date when the accountable person first becomes liable for the tax.

The rule is modified for

• transfers that arise on death ( IHTM10811)
• potentially exempt transfers (PETs) ( IHTM10821)
• gifts with reservations (GWRs) ( IHTM10824)
• Penalties ( IHTM36000) may be chargeable if an account is not delivered within the statutory time limit. There are also penalties for failing to deliver an account ( IHTM36081).