Specimen form of offer involving tax, interest and penalties,
payable by instalments - Scottish cases
To The Commissioners of HMRC
In consideration of no proceedings being taken against me/us
in respect of the duties set out in the statement overleaf, which
I/we acknowledge and agree to be unpaid by reason, wholly or in
part, of my/our default, or in respect of the penalties and
interest to which I/we may thereby have become liable under the
Inheritance Tax Act 1984,
I/we (a)* (Name) of (address) and ((b) (Name) of (address))*
Personal Representatives of ……………..
deceased,
hereby offer in respect of the said duties, penalties and
interest and of my/our being allowed to make payment by
instalments, the sum of £…….. ("the said sum")
being £…….. in respect of the said penalties,
together with £……….. in respect of the time
granted (of which I/we have already paid
£……… on account and the balance of)* which
is to be paid by instalments as follows.
If at any time any of the said instalments or any part
thereof shall be in arrears and unpaid for the period of fourteen
days after the time appointed for payment thereof then the whole of
the outstanding balance of the said sum shall become payable by
me/us to the Commissioners of HMRC together with interest thereon
at the rate applicable from time to time for the purposes of
Section 233 Inheritance Tax Act 1984 or any amendment or re-
enactment thereof, from the day when default shall be made in
payment of such instalment or part thereof. Any such interest shall
be paid without deduction of Income Tax.
The acceptance of this offer shall not effect novation in
respect of any of the sums assessed and if required by the
Commissioners of HMRC the terms of this offer shall be embodied in
a bond which will be executed by me/us within thirty days of the
date of the letter requiring me to do so and which bond may be
registered for preservation and execution. In the event of my/our
failing to execute a bond acceptable to the Commissioners within
the said period the whole of the balance then outstanding of the
said sum together with interest thereon from the date of my/our so
failing, at the rate applicable from time to time for the purposes
of Section 233 Inheritance Tax Act 1984 or any amendment or
re-enactment thereof, shall immediately become payable by me/us to
the Commissioners of HMRC who may proceed immediately to recover
the said whole balance outstanding with interest aforesaid. Any
such interest shall be paid without deduction of Income Tax.
|
Date………………………..
Signed | (a) | )Personal
)Representatives |
| (b) | )of
……………
)deceased |
- the back of the letter of offer
Statement of amount unpaid by reason wholly or in part of
my default
| Year to | Nature of Duty | Amount |
| £ |
* The contents of the brackets should be omitted as necessary.
