I am likely to inherit around 20K in the next few months from a family member. There's no inheritance tax to pay on the estate, but will the inheritance count as additional income for me, and will I therefore have to give 40% to the taxman as i am a higher rate tax payer? I'd like to use it to pay off a bit of the mortgage.
I can't find straightforward facts on the .gov site - can anyone here help?
Thanks