DeVere House

4 Acorn Business Park
Woodseats Close
Sheffield, S8 0TB

Emergency changes to UK IHT payments and returns processes

HMRC is scrapping cheques for the payment and repayment of inheritance tax (IHT), as a result of the coronavirus crisis.

It will no longer accept payment of IHT by cheque, and will not issue cheques or payable orders for the repayment of IHT. In future, the tax must be paid by any of the other methods specified in its guidance, and repayments will be made direct to a named bank account using the faster payments (FPI) system.

To receive a repayment, the payee details must be sent to HMRC in writing, in a letter signed by all the people who signed the IHT400 or IHT100. This letter must be headed ‘Repayment – further details’.

This change appears to be permanent, rather than just for the duration of the crisis.

Further, because of the self-isolation and social distancing measures in place, HMRC is temporarily accepting printed signatures on IHT returns instead of personal representatives’ (PRs’) physical signatures, when there is a professional agent acting.

The names and other personal details of the PRs or trustees must be shown on the declaration page, and the account must include a clear and unambiguous statement from the agent to confirm that all the PRs or trustees have seen the IHT account and have agreed to be bound by the declaration.

Source: STEP Journal 16 April 2020

Fogwill & Jones (Legal Services) Limited remains open during these unprecedented times with our staff working from home.  We are conducting meetings with our clients via Skype, Whatsapp, Zoom or on the telephone. 

If you would like help with administering an estate please contact Helena Grady  on (0114 2588899).  Helena Grady is a Solicitor and member of the Society of Trust and Estate Practitioners (STEP) with many years’ experience.

Please note that, although Fogwill & Jones (Legal Services) Limited operate from the same premises as Fogwill & Jones Asset Management Limited they are entirely separate businesses.  The only connection is that both are owned by Colin Fogwill. If you are a client of Fogwill & Jones Asset Management Limited you are under no obligation to instruct Fogwill & Jones (Legal Services) Limited and you may choose to instruct alternative legal advisers.