Direct Payment Scheme
This is a scheme under which participating banks, building societies and National Savings and Investments will release funds
from the deceased’s accounts directly to HMRC to pay Inheritance Tax.
Do you wish to use the Direct Payment Scheme?
Fill in Schedule IHT423 (you’ll need a separate form for each bank, building society and
National Savings and Investments account concerned)
I/We wish to apply for the following type of grant
(go to the note ‘Grant of representation’ in IHT400, ‘Notes’
to decide on the type of grant)
• Letters of Administration
• Letters of Administration with will annexed
• Other (specify)
To the best of my/our knowledge and belief, the
information I/we have given and the statements I/we
have made in this account and the schedules attached
(together called ‘this account’) are correct and complete.
Tick the schedules you’ve filled in.
I/We have made the fullest enquiries that are reasonably
practicable in the circumstances to find out the open
market value of all the items shown in this account.
The value of items in the box(es) listed are provisional
estimates which are based on all of the information
available to me/us at this time.
I/We will tell HM Revenue and Customs the exact values as
soon as I/we know it and I/we will pay any additional tax
and interest that may be due.
List the boxes in the account that are provisional here.
Where Schedule IHT402 has been filled in I/we declare
that to the best of my/our knowledge and belief:
• the deceased and their spouse or civil partner were
married or in a civil partnership at the date the
spouse or civil partner died
• where a Deed of Variation has not been provided
there has been no change to the people who
inherited the estate of the spouse or civil partner
I/We understand that I/we may be liable to prosecution
if I/we deliberately conceal any information that affects
the liability to Inheritance Tax arising on the deceased’s
death, or if I/we deliberately include information in this
account which I/we know to be false.
I/We understand that I/we may have to pay financial
penalties if this account is delivered late or contains
false information, or if I/we fail to correct anything in
this account which is incorrect in any material respect
within a reasonable time of it coming to my/our notice.
I/We understand that the issue of the grant does not
mean that I/we have paid all the Inheritance Tax and
interest that may be due on the estate, or that the
statements made and the values included in this account
are accepted by HM Revenue and Customs.
I/We understand that HM Revenue and Customs:
• will only look at this account in detail after the grant
has been issued
• may need to ask further questions and discuss the
value of items shown in this account
• may make further calculations of tax and interest
payable to help the persons liable for the tax to
make provision to meet the tax liability
I/We understand that I/we may have to pay interest on
any unpaid tax according to the law where:
• I/we have elected to pay tax by instalments
• additional tax becomes payable for any reason
Each person delivering this account, whether as
executor, intending administrator or otherwise must
sign on page 14 to indicate that they have read and
agreed the statements above.
If you’re acting in a professional capacity for this estate
give either your SA or CT UTR and agent name on page 14.