Who pays the Tax and when is it paid 

It is important to note that who is liable for the inheritance tax varies depending upon the terms of the Will. 

Ordinarily the executors named in the will, are responsible for paying IHT on the assets forming part of the estate and this must be paid within 6 months of the end of the month of death. If it has not been paid in this time interest will apply. 

It is possible to pay IHT in installments for certain types of assets (mostly those that are difficult to dispose of) but with the exception of some shareholdings, interest will be charged once the 6 month deadline has passed. 

If the Will is silent in relation to any tax on lifetime gifts, the general rule here is that the recipient must pay that IHT. 

If a Trust forms part of the taxable estate ordinarily the trustees are responsible for their proportionate share of the IHT due.