Part 2: Inheritance Tax Section 15: Inheritance tax: interest Summary
This section amends the legislation relating to late payment interest provisions for inheritance tax (IHT). It extends the regulation making powers to allow the provisions relating to financial institutions and companies to be updated. It also clarifies the period from which interest is charged. These amendments complement other legislative changes which will be made to support the digitisation of IHT. They will ensure the relevant provisions will apply correctly when the new online service starts to become available later in 2015.