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Posted Sat, 19 Mar 2022 19:40:15 GMT by Nit2022
hi I have inhered money (less than 20K) and a land (that does not produce any income) from a non UK-resident (the deceased lived in a EU country). I am an UK resident. I would like to know if I have to declare to HMRC the money and the land once I receive them. ShouId complete a Self Assessment?
Posted Mon, 21 Mar 2022 11:47:26 GMT by HMRC Admin 17

Hi,
 
You don’t normally pay Income Tax or Capital Gains Tax on a property/money you inherit when you inherit it. 

You may have to pay Inheritance Tax if the deceased’s estate can’t or doesn’t pay it  see link:

Tax on property, money and shares you inherit      .

Thank you.

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