Hi, a close relative of mine recently died, they died intestate but according to the "rules of intestacy" I inherit their estate.
They didn't leave a great deal of money. They left about 12 grand in a bank account and I received another payment of about 4 grand once the people the deceased had a pension with decided that I was the person to receive the money. This late relative of mine has helped me out a great deal financially and 12 grand is 12 grand and NOT to be sniffed at and I am very grateful for the cash, however, I have to admit it's not that great an amount of money compared to what some people leave (if you know what I mean), but still I need to know: do I have to pay tax or anything on this?
BTW, funeral cost 4 grand (if that makes a difference).