Do we pay tax on inherited money just curious thankyou xxx
Tax : Do we pay tax on inherited money... - Lung Conditions C...
Tax
11 Replies
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The estate of the deceased person pays the tax if the amount is over the IHT free allowance. Then any bequests are distributed tax free from the balance remaining. I hope that helps.
in reply to
Thanks littlepom IHT????
in reply to
stands for inheritance tax. I forgot to say that any bequests to charities are paid from the gross amount of the estate before any tax is deducted from the remaining amount and they are tax free to the charity.
in reply to
Thank you so much appreciate the help 💐
A little pressie just for you Angie
gov.uk/inheritance-tax/over...
love.....skis
in reply to skischool
Thank you skis so everything under £325. 000 is tax free 😀😀😀
skischool in reply to
Probate and inheritance tax are now both completed within the same process so the executor of the estate should have bottomed this off.
Been there done it seen the movie,benefits.pip,compromise agreements with employers.occupational pensions,probate inheritance tax inheritance tax in spain,Spanish land registery et al.All done without money grabbing solicitors who want to rip you off to fill out forms available to joe public.Rant over my only failure was i got stuck with bloody Scruffy cat,So i am not as smart as i think i am!..Enjoy your inheritance,....skis
Depending on the amount, the terms of the will the tax should have been taken out before it is divided. This should be sorted when probate is granted.
in reply to Badbessie
Thank you trouble xxx
Hi Angie. I believe the threshold is to be increased
in reply to Budgie1954
Hi you thanks for reply xx
