Tony

Banks do not provide accounts in any name other than individual(s) names (e.g. for executors, "Executor of ...") other than business accounts, for which there are other naming restrictions (and costs). This is probably in part due to AML regulations. Given interest rates have not been sub 1% for some time now and inflation is non-negligible, personal representatives (PRs) would not be acting in the best interests of beneficiaries if they did not avail themselves of interest bearing accounts. Since HMRC's savings "allowance" for IHT is only £500, this is going to become a considerable issue for HMRC: Might I suggest HMRC look into enabling PRs to declare to HMRC bank accounts used for the management of Estates. Also for declaring assets appropriated (by means of "bare trusts") and their ultimate beneficiaries.