Jane123
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Inheriting money from a foreign bank account to UK
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.