HMRC has advised that the information in its IHT113 guide (which accompanies form IHT100WS) on filing and payment dates for chargeable events arising on relevant property trusts on or after 6 April 2014 is incorrect.

For anniversary and exit charges under Chapter III of the Inheritance Tax Act 1984 (IHTA 1984) (Chapter III charges) arising on or after 6 April 2014, filing and payment dates are both six months after the month in which the charge arose. This alignment of filing and payment dates was introduced by the Finance Act 2014 (FA 2014), as a result of the government's second consultation on simplifying the rules on inheritance tax charges in relevant property trusts (RPTs). Previously, the deadlines for filing and payment were different and it was possible for the payment deadline to be earlier than the filing deadline. The legislation removes this anomaly for Chapter III charges.

As the amending legislation refers to all Chapter III charges, the new filing and payment dates are not confined to RPTs but apply also to exit charges in 18 to 25 trusts and exit charges in accumulation and maintenance trusts under section 71 of IHTA 1984 where the beneficiaries do not have a common grandparent.

HMRC's IHT113 is dated December 2005. Therefore, it would appear that it has not been updated to take into account the changes introduced by the FA 2014. HMRC has confirmed that it will update the guide as soon as possible.

For further information, see Practice notes, Inheritance tax: relevant property trusts: changes to rules: Alignment of filing and payment deadlines for Chapter III charges and Tax data: inheritance tax: Deadlines for returns and payments: Trust anniversary and exit charges.

To follow the government's current consultation on simplifying IHT charges in RPTs, see Private client tax legislation tracker 2014-15: IHT: relevant property trust charges.

Source: HMRC: Changes to the filing and payment date on relevant property trusts.