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Inheritance

Melmar
Melmar Posts: 42 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Cutting tax
I have been fortunate in that I have been left £15,000 in a will. Do I need to tell the inland revenue about this?


many thanks

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Melmar wrote: »
    I have been fortunate in that I have been left £15,000 in a will. Do I need to tell the inland revenue about this?


    many thanks

    who ever did probate on the estate will deal with the tax affairs

    you don't need to tell anyone about your 15k
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    No you dont,

    You dont pay tax on it

    If you are a taxpayer then if you put it in the bank, yoiu will only pay tax on the interest it accrues
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Mojisola
    Mojisola Posts: 35,574 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Melmar wrote: »
    I have been fortunate in that I have been left £15,000 in a will. Do I need to tell the inland revenue about this?

    No, but if you are claiming any benefits that have a capital limit, you will need to tell the DWP.
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