»Ê¹ÚÌåÓýapp

Where woodlands have been left out of account on a transfer on death under IHTA84/S125 and a IHTA84/S126 charge arises in connection with a subsequent chargeable transfer, IHTA84/S229 allows the tax chargeable on that chargeable transfer to be paid by ten equal yearly instalments. A written notice of election is required.

»Ê¹ÚÌåÓýapp first instalment is payable six months after the end of the month in which the transfer is made.

»Ê¹ÚÌåÓýapp instalments are interest free (IHTM30363) in the sense that interest is charged only from the date at which each instalment is payable.

Where instalments are payable under IHTA84/S229, the unpaid tax does not become immediately payable when the timber is sold (IHTA84/S227 does not apply).