UK Tax question?

dbdb_2

Hi, Hoping someone out there can help.....I inherited a share of my mothers house (£80,000) on her death earlier this year....I'm self employed and only usually need to fill in a 'shorter tax form'....do I need to declare the full inheritance or just any interest accrued? and, is it still possible to use the 'shorter tax form'?

Thank you....

BoGoF

dbdb wrote: »

Hi, Hoping someone out there can help.....I inherited a share of my mothers house (£80,000) on her death earlier this year....I'm self employed and only usually need to fill in a 'shorter tax form'....do I need to declare the full inheritance or just any interest accrued? and, is it still possible to use the 'shorter tax form'?

Thank you....

Just to clarify....your mother's house was sold and your share of the proceeds was £80,000 ? If so and this money was invested (not all in the same place I hope) then all you need to declare on your Tax Return is the interest on this investment and yes this can go on the short tax return.

dbdb_2

BoGoF...Thanks very much for the speedy reply...much appreciated.