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 a Tax Question
w0nKy
Posts: 13 Forumite
I am at the point of applying for probate after registration of death with my fathers investment providers, banks etc.
I have all of the information back but have also received a form from two investment providers which mention chargeable gains and a liability to income tax on two of his investments.
I have all of the information back but have also received a form from two investment providers which mention chargeable gains and a liability to income tax on two of his investments.
There are pages which give some explanation but I do not fully understand how to proceed with them. My father was a basic rate tax payer and never withdrew any monies during the term of these bonds or policies.
Has anyone had to deal with these previously?
Can I still apply for probate and resolve any tax issues later?
Any information would be welcomed.
Can I still apply for probate and resolve any tax issues later?
Any information would be welcomed.
0
Comments
-
Is this relevant to the situation?
https://www.thepfs.org/learning-index/articles/single-premium-investment-bonds-and-death/39047
1 -
Thank you for your reply.Similar in some respects. I have been sent a certificate from each provider which states that the investment maturity is treated as tax been paid at basic rate. I think that any tax liability would arise if my father was a 40% tax payer which the investment providers would not know. They have apparently informed the revenue of these details so I am sure they will be in touch in the future if I needed to complete a tax return for my father.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards