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Seeing if tax is owed on estate? NOT IHT

wilkko73 · 2025-02-05 18:05:40

My mum's estate is an excepted estate in terms of IHT but what about taxes that appear after death such as from Isa's mum has about £22k in of of those I need to close that down tomorrow when I get the paperwork to take to bank ,she only died a couple of weeks ago and I haven't got round to it.Will a tax demand appear from…

Comments

Keep_pedalling Posts: 21,703 Forumite

5 February at 9:07PM

You are the sole beneficiary of the estate so once the account is closed and the money sits in your account then any tax due is your responsibility. Having said that, even if you did not have to use this money now, the interest on it would be well below the amount you would have to pay tax on.

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