Notwithstanding the general rules for payment of IHT (see ¶1955), tax may be paid in instalments if the tax payable on the value transferred by a chargeable transfer is attributable to the value of the following:

(1)land;

(2)shares or securities of a company which gave the deceased control of that company before death;

(3)‘unquoted’ (see ¶17010) shares or securities if the tax on those shares amounts to at least 20% of his liability on those chargeable transfers that may be paid by instalments, or if the payment of tax in one sum will, in HMRC’s opinion, cause undue hardship;

(4)unquoted shares if those shares exceed £20,000 in value and either:

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