late payment of inheritance tax

[surfineddie]

I need to make a return at the end of the month regarding inheritance tax. The bequest was property based and I do not have the cash for the tax. The propertty is on the market IF I do the return without the payment do interest and penalties start immediatelty? Will reenue send sherrif to me? Is there anty time allowance?

thanks

 

[Vanilla]

You can apply as part of your return to pay the tax by installments. IF the revenue agree you will still pay interest on it, but at least no penalties. Your tax advisor will tell you more, or read/google this: Section 54 CATCA 2003