Tax on inherited money
#1
Tax on inherited money
Guys,
My brothers fiancee has just inherited a chunk of money which is a 1/3 share of a property which is being sold.
Question is, does she pay tax on the money which will be approx. £40k?
The whole estate of the deceased comes under the IHT threashold.
Anyone know?
My brothers fiancee has just inherited a chunk of money which is a 1/3 share of a property which is being sold.
Question is, does she pay tax on the money which will be approx. £40k?
The whole estate of the deceased comes under the IHT threashold.
Anyone know?
#6
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Originally Posted by Dunk
She won't pay tax, but the estate might.
D
D
"the whole estate of the deceased comes under the IHT threashold."
not IHT it wont, if the prop being sold was not a primary home then there may be some CGT to pay, etc but from the sound of things (if its as simple as described) no one pays any tax.
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MightyArsenal
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25 September 2015 08:31 PM