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Steve Jarratt

Steve Jarratt

Joined: 5/30/2023

  • Inheritance tax and declaration?

    Tue, 30 May 2023 11:08:13 GMT – Inheritance tax and declaration?
    Hi. I am in the process of inheriting my mom's estate and property. The total amount will be above the standard inheritance tax nil-rate band (£325K). However, the property is coming directly to me as her son, so I assume that counts towards the residents nil-rate band. In which case I do not need to pay inheritance tax – so my question is, do I need to declare anything if it falls below the combined £500K limit. In short: do I need to fill in any forms or tell the tax man. Thanks!