Inheritance

[waynepompey]

My wife has just recieved an inheritence pay out of �125,000 which was the result of a house sold after her late father died. Is she liable to pay tax on this amount when she recieves the cheque ?

[dzug]

No - the executors should have paid any tax due before paying her.

[Loosehead]

As above any IHT is due from the estate not the recipient.

[waynepompey]

Many thanks