inheritance query

edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
3 replies 1K views
busybozbusyboz Forumite
1 Post
edited 30 November -1 at 1:00AM in Deaths, Funerals & Probate
Hi all, might be a bit of numpty enquiry, but it has been niggling us for a while.
Recently my partner received an inheritance of £11,000 from a relatives unfortunate death. We know that it's not subject to tax as it's not classed as income, but when filling in a tax return, will you have to prove the increase in funds is the result of the inheritance.
Sorry if its a bit of a basic question but we really don't know a lot about these things.
Regards
Busyboz

Replies

  • pollypennypollypenny Forumite
    29.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Tax returns only ask for income, so an inheritance doesn't apply.
    Member #14 of SKI-ers club

    Words, words, they're all we have to go by!.

    (Pity they are mangled by this autocorrect!)
  • Yorkshireman99Yorkshireman99 Forumite
    5.5K Posts
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    busyboz wrote: »
    Hi all, might be a bit of numpty enquiry, but it has been niggling us for a while.
    Recently my partner received an inheritance of £11,000 from a relatives unfortunate death. We know that it's not subject to tax as it's not classed as income, but when filling in a tax return, will you have to prove the increase in funds is the result of the inheritance.
    Sorry if its a bit of a basic question but we really don't know a lot about these things.
    Regards
    Busyboz
    HMR&C may ask and if so just tell the truth. There should be no problem and no tax payable by you.
  • konarkkonark Forumite
    1.3K Posts
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    How does HMRC know you have an 'increase in funds', do you think they automatically get a copy of your bank statement.
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