Estate Income Post Probate

Mothman

In January of this year we finished collecting all the monies from my late Mothers estate and wrote to HMRC advising of the estate income received post probate so that we could settle any tax due. We declared approx £1100 of income from premium bonds, index linked savings certificates & cash ISA's as we were unsure whether the tax fee status of these persisted post death. We also declared a further £400 of interest received on standard savings account on which 20% tax would have been due.

I know the wheels of HMRC grind slowly but we have heard nothing since which has surprised me as we owe them money. Is this normal or should we write to them again in case the original letter was not received? Thanks

Keep_pedalling

Premium bonds and ISAs do not need to be declared, if the rest of the income is below £500 then you owe no tax.

Mothman

Keep_pedalling said:

Premium bonds and ISAs do not need to be declared, if the rest of the income is below £500 then you owe no tax.

Thanks for the reply. I wasn't aware of the £500 threshold and it explains why we haven't heard from HMRC.

Bobziz

Mothman said:

Keep_pedalling said:

Premium bonds and ISAs do not need to be declared, if the rest of the income is below £500 then you owe no tax.

Thanks for the reply. I wasn't aware of the £500 threshold and it explains why we haven't heard from HMRC.

https://www.gov.uk/probate-estate/reporting-the-estate

£500 threshold detailed in this linked doc