Inheritance Tax Act 1984 section 241

Overpayments

Section 241 deals with the repayment of inheritance tax where too much has been paid on a chargeable transfer, including the time limit for making a repayment claim.

• Where HMRC is satisfied that too much inheritance tax has been paid on the value transferred by a chargeable transfer, it must repay the excess.
• A claim for repayment must be made within six years of the date on which the payment, or the last payment, of tax was made.
• The overpayment may relate to the full value transferred or to the portion of that value attributable to any particular property.
• References to tax in this section include references to interest on tax, so overpaid interest is also recoverable.