Inherited Money – who pays the tax?
IHT will normally have been paid by the time the benefiiciaries get their inheritance. The executors of the Will have to pay it. However, a badly organised Will may cause the burden of taxation to wipe out some beneficiaries inheritances, and the Taxman can chase executors and beneficiaries if the executors pay the wrong amount of tax – for an unlimited period. Read our book to find out how to avoid this.
