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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Letters of Offer: instalment offers (examples)

Example 1

Using the example at IHTM36253 the instalments could beexpressed as follows

£5,250 Already paid on account.
   
£136 To be paid within 30 days of the date of the letter notifying acceptance of this offer.
£4,970 To be paid by 35 monthly instalments of £142 each, on or before the last day of each succeeding month, the first such instalment to be paid on or before the last day of the month next following that in which the instalment of £136 becomes due,

until the whole of the £10,356 has been paid.

Example 2

An example of how to express instalments when there are varying instalments and otheralterations.

£1,000 Already paid on account.
   
£2,500 To be paid within 30 days of the date of the letter notifying acceptance of this offer by you.
£2,400 To be paid by 12 monthly instalments of £200 each succeeding month, the first such instalment to be paid on or before the last day of the month next following that in which the instalment of £2,500 becomes due.
£3,000 To be paid by 12 monthly instalments of £250 each, on or before the last day of each succeeding month, the first such instalment to be paid on or before the last day of the month next following that in which the twelfth instalment of £200 becomes due,

until the whole of the £8,900 has been paid.

Example 3

An example of how to express instalments when quarterly instalments have been requested.

£2,000 Already paid on account.
   
£8,000 To be paid by 16 quarterly instalments of £500 each, on or before the last day of each third succeeding calendar month next following that in which falls the date of the letter notifying acceptance of this offer by you,

until the whole of the £10,000 has been paid.