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Posted Tue, 10 Jan 2023 12:41:44 GMT by Barry Croucher
I recently received a small inheritance. The estate was declared for inheritance tax purposes but wasn't large enough to be liable. Do I need to declare my inheritance as untaxable income on my self employed tax return?
Posted Fri, 13 Jan 2023 12:18:40 GMT by HMRC Admin 20
Hi Barry Croucher,

Your inheritance is not classed as income and is not taxable.  
Any interest or dividends arising from your inheritance would be taxable and would need to be declared.

Thank you.
Posted Sat, 14 Jan 2023 10:55:51 GMT by Barry Croucher
Thanks for the info!
Posted Sat, 11 Mar 2023 05:11:30 GMT by melissaw1
So similar - on my grandparent death my mother was executor and her solicitor distributed some monies to myself and my brother. Do I need to declare on self assessment as income ?

[Display name amended - Admin]
Posted Wed, 15 Mar 2023 14:43:12 GMT by HMRC Admin 32

No. This is an inheritance that you dont need to declare.

Thank you.

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