We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Probate and Tax Form R27
skyline*123
Posts: 1 Newbie
Can any one give me some advice here. Basically my father died 18 months ago with out a will. My sisitr and I went through probate to gain the money he had in his bank. Which he had instructed us to do prior to his death. He was under the impression I could simply take the money out with out probate / will as I was a trustee on the account. However eventually went through probate nd recieved £90,000, in my name which I then split with my sisiter. I was worried i had to pay tax on this however now know that this does not meet the threashold. (no other vaules from estate).
I have since returned to live with my partner and 3 children and now recieved approx £230 in family tax credits. However i have also now recieved a form R27. I am woried if i fill the form in that i wil owe some tax or this benifit woudl be reduced. Does nay one have any advice?
I have since returned to live with my partner and 3 children and now recieved approx £230 in family tax credits. However i have also now recieved a form R27. I am woried if i fill the form in that i wil owe some tax or this benifit woudl be reduced. Does nay one have any advice?
0
Comments
-
Googling form R27 bring up this http://www.hmrc.gov.uk/incometax/claim-for-deceased.htm0
-
Welcome skyline, the R27 isn't for your tax and benefits, it's to see if any tax is due / should be refunded on your father's account.
Often tax has been overpaid, because the deceased person gets a full year's tax allowance regardless of when they died. That means you get some back.Signature removed for peace of mind0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards