Crosswords1 min ago
Income Tax Liability
3 Answers
Hi
My wife's cousin died in January of 2008 and was self employed. Her Daughter who inherited the house has now had a letter from the Inland Revenue saying the her late Mother owed the "Taxman" �3000 and that she is now liable for this amount. Can anybody please advise on this matter, with regard to her liability.
Many thanks
FBG40
My wife's cousin died in January of 2008 and was self employed. Her Daughter who inherited the house has now had a letter from the Inland Revenue saying the her late Mother owed the "Taxman" �3000 and that she is now liable for this amount. Can anybody please advise on this matter, with regard to her liability.
Many thanks
FBG40
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.All the deceased's debts should be paid out of the assets in the estate, & it is the job of the executor to deal with this. The house was presumably an asset. If it was the only one then, as the beneficiary of the house, she would have to pay. If someone else was executor & there were other assets she needs to discuss this with the executor.
She also needs to get info. from HMRC showing how they have calculated the amount due.
She also needs to get info. from HMRC showing how they have calculated the amount due.