IHTM30159 - Due date for payment: postponing payment

This issue may arise in three different situations.

• The instalment option ( IHTM30191).
• When the taxpayers request time to pay (IHTM38320).

If the Debt Management & Banking have become involved you should notify them immediately any further difficulty is apparent, for example when money due under a time to pay’ arrangement is not received on time.

• Blocked foreign assets

There is an Extra-Statutory Concession (F6) to the effect that where, because of restrictions imposed by the foreign government, executors ( IHTM05012) cannot immediately transfer to this country sufficient of the deceased’s foreign assets for the payment of the IHT attributable to them, they are given the option of deferring payment until the transfer can be effected.

The application of this concession, which is available only on death transfers, is the responsibility of Shares and Assets Valuation (Foreign) (SAV (F)). Refer any request for the application of the concession to SAV (F). Do not make any reference to the possible application of the concession without the specific authority of SAV (F).