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Inheritance Tax.

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tobergill | 23:05 Thu 01st Sep 2011 | Law
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My elderly neighbour`s brother has died. No will was made. It went to probate and my neighbour has eventually received a cheque for £10.000, Does he have to pay Inheritance Tax...................I dont think so but could one of you knowledgeable people confirm this.
Thank You.
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Avatar Image plautus
Inheritance tax is paid out of the estate, not by the beneficiaries, so no worry here.
23:08 Thu 01st Sep 2011
Avatar Image Buenchico
Inheritance Tax is only payable when the value of the deceased person's estate is at least £325,000. If your neighbour received £10,000 then (unless he's got over 30 brothers or sisters!) there will be no tax to be paid.

Chris
23:14 Thu 01st Sep 2011
Avatar Image dzug2
The tax, if any, will already have been paid - so no need to worry about it.
07:59 Fri 02nd Sep 2011

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