Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 22 Nov 2023 17:17:41 GMT by
Hello, I have tried to find the answer to this question myself but with my own circumstances it is still not clear. I have been given £10,000 from a will where one person has died and one person still lives. The person leaving the money was not a relative. The relative's son who has POA of the deceased estate gave me in April (post 6th April 2022, £2,000 from his personal account of which £1,000 was his own gift and £1,000 from the estate that was still being sorted out. I received a final £9,000 at Christmas 2022. He did take legal advice and said I should not have to pay tax on the 10K as this was from a will. This money has not been used as income, or to create income and was spent on a car for my work. So, in total I received £11,000 ( 10K from the estate and 1K from him. Do I have to pay Tax on this money and if so how much? Thanks in advance.  
Posted Thu, 23 Nov 2023 16:05:15 GMT by HMRC Admin 10
Hi
No.  
You are not taxable on the money willed to you.  
If that money generated interest while held in a bank account, then only the interest would be taxable as your income.
Posted Thu, 23 Nov 2023 16:56:34 GMT by
Many thanks in clarifying this. I do appreciate the quick response. Kind regards, Helen.

You must be signed in to post in this forum.