Part 2: Inheritance Tax Section 15: Inheritance tax: interest Background note
At Autumn Statement 2013 the government announced that, as part of the government’s digital strategy to improve the process for customers and the administration of the tax, an online service will start to be provided in 2015 for the submission of IHT returns. To support the introduction of the new online service, legislative changes by regulations and Appointed Day Orders will be made to align the treatment of interest and penalties for inheritance tax purposes with other taxes. The amendments made by this section are part of those changes and will ensure that the relevant provisions relating to late payment interest are updated and apply consistently when the new online service starts to become available later in 2015.