Inheritance Tax - how are adjustments made (compared to the submitted form) once all is settled?

What_time_is_it

uknick said:

What_time_is_it said:

Thanks. 
But can we not put the house sale money into a savings account so that it at least earns some interest? e.g. £1m house sale = £4k a month interest.

That's not what you asked.  You asked if you could distribute the estate and put your share into a savings account.  The funds should initially go into an executor's account.  If you can get an interest bearing executor account, that's all well and good.

There isn't an executor's account as such. There is a current account which is in the joint names of the two executors which is where the house sale money would initially go.
Sorry for not being clear. It's all quite confusing for me! 

uknick

Just to confuse it more, if the account is interest bearing, who gets the interest, account holders or the estate?  And then there's the income tax implication of any interest earnt.