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Probate and tax

2 replies

probatesmobate · 28/11/2020 10:10

Have NC'd!!
I'm an executor of my dad's estate. We just had probate granted. Prior to his death we managed to get his bank account into both our names to help with management.
This is now fully in my name and I'll be managing the estate from this account.

My question is there is a lot of money in there now. Does this make me tax liable? So it's really stupid question but thanks for your help in advance

OP posts:
prh47bridge · 29/11/2020 00:04

You are not liable for tax on money you have inherited or received as a gift from someone, nor are you personally liable for tax on your father's estate. The estate may, of course, be liable for inheritance tax.

probatesmobate · 29/11/2020 08:28

Thank you! The estate is

OP posts:
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