IHTM31751 - Deposits: introduction

A deposit is a sum of money

• placed by the taxpayer
• with HMRC:IHT
• against a possible liability to inheritance tax
• to stop interest from accruing on that sum.

Cashiers will bank the payment and charge it against the case reference. They will send you a receipt showing

• the EDP ( IHTM31211),
• the amount received,
• the Cashiers reference, and
• the name and reference of the case.

When you receive a deposit, file it inside the file cover and note the details, If your registry staff enter the details, they will notify you of the deposit so you can consider how to deal with it.