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Legacies received by executors taxable ?
Lagrange
Posts: 18 Forumite
Normally legacies are not taxable in the hands of the recipient. However, if the will gives legacies to the executors on the condition that they must act as executors would this make the money received taxable? The executors are in effect being paid for work done.
Any comments appreciated.
Any comments appreciated.
1
Comments
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If we are talking about lay executors then no it is just a conditional legacy.0
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Yes- lay executors.
Thanks0
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