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Posted Wed, 16 Oct 2024 09:58:25 GMT by Jane123
Hi - I am executing an estate, for a UK citizen who lived and died in the UK but spent many years in Canada and still had a bank account there. I have completed Inheritance Tax and Probate forms in the UK (including declaring the Canada assets) and have now done the same in Canada. Once I distribute the Canada money to beneficiaries in the UK (of which I am one) do we need to declare this inheritance as income - or have we paid all the necessary tax through the inheritance tax process? Thank you.
Posted Thu, 24 Oct 2024 14:37:24 GMT by HMRC Admin 19 Response
Hi,
You will have paid the necessary tax through the Inheritance Tax process.
Thank you.
 

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