IHTM31601 - Repayments: introduction

Where, following amendments or application of money on deposit ( IHTM31751), it comes to light that too much tax and/or interest has been paid, you must make a repayment of the overpaid amount, unless (rarely)

• the claim for repayment is made more than six years after the date of payment (or last payment) of the tax or interest. (This limitation does not apply where the charge to IHT was based on an error of fact. For this purpose, an alleged error in valuation is not an error of fact.)

or

• the repayment may be precluded under the “mistake of law” provisions in IHTA84/S255.

If you consider that a claim for repayment should be denied because it is excluded under one of these categories, consult with your manager.

A repayment is usually appropriate when you have established the value of the estate and do not expect any further amendments. You can sometimes however make a provisional repayment ( IHTM31720) before all matters relating to the estate are settled.

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)