Probate Issued - How long to pay tax

[polo1]

How long does one have to pay the tax on Inheritance once Probate has been issued.
Also if the tax is paid and the estate is settled at a later date for a higher value (ie sold) how long does one have at that stage to settle any differences in tax with the revenue.
Solicitor is on holidays until Sept 1st and am just curious.
Thanks,

 

[Nige]

You must pay your inheritance tax within 4 months of the inheritance - but the date of the inheritance may well be the date of death, rather than the date probate issues.

If you sell the property later for a higher sum then you will be subject to CGT on the uplift and this is due for payment by 31 October (if the sale happens before October) or 31 January next if it occurs between October and the end of the year.