Inheritance from Abroad?

Batteryman

Hi.

Apologies if this is in the wrong section but could not see and better place to post this in MSE..!

My wife's mother recently passed away and she is inheriting the house that is to be sold and split 50/50 with her sister.

My Wife is German whilst I am English and we both live and work in the UK.

The value to be received is going to be under the threshold of inheritance tax in both countries so my question is really about the best ways to transfer monies from euros to £.

We want to use some of the monies to clear down some debts but save the rest of the future etc

We are looking to set up and international savings account where the money can be deposited in euros and kept there until the FX Rate gets better (hopefully).

My questions is really about the Exchange from Euros to Pounds and what the best route is.
- I appreciate the worst route would be via my bank
- I've been looking on various website and comparisons services etc and have been talking to a company called Currencies Direct who are offering a much better rate than my bank that could save me approx £1,500!!.

Does anyone have any experience of using this company and if so did you find them good or any issues you had with them please?

Do people on MSE have any other advice on a better way to transfer the monies please?

Are there any tax issues I should be aware of re my wife having this money?

I don't believe there is any inheritance tax to pay as it is well under the threshold. I know we will have to pay tax on the interest earned but is there anything else I need to be aware of please?
I am the main 'breadwinner' in the family with my wife working a limited amount of hours in the week.

many thanks for your help