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I have just received a lump sum payment from my deceased brothers

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I have just received a lump sum payment from my deceased brothers estate. Do I have to declare it tax people. Also as a state pensioner with three small occupational pensions do I have to declare this to the DWP
Submitted: 10 months ago.
Category: Law
Expert:  JustAnswerKM replied 10 months ago.
Good morningThank you for your message.The answer in short is that the lump sum is an 'inheritance payment' not 'income'. Income needs to be declared to the tax people (HMRC) so you do not need to declare the lump sum to them. If it's income from a Trust (it doesn't appear to be the case here) then yes you will have to declare that to the tax people.Regarding your small occupational pensions, it is always advisable to declare this to the DWP even if you're only receiving a state pension. The DWP will look at your financial circumstances as a whole and consider other benefits (i.e. pension credit, winter fuel allowance etc.) you may be entitled to. If you are receiving other benefits then yes, you must declare the small occupational pensions to the DWP. I hope that helps. Kind regards Krystel*Please rate my answer so i can be credited for it.
Customer: replied 10 months ago.
I am pleased with your answer to my question about inheritance payment.
The second part of my question was not about declaring an occupation pensions, I have always declared them, my question was do I need to declare my inheritance to the DWP ?
Expert:  JustAnswerKM replied 10 months ago.
I apologise for that.The state pension is not means tested so no, you do not need to declare the inheritance to the DWP. However, if you receive other benefits that are means tested (eligibility process) then yes you will have to declare the inheritance to the DWP. The inheritance is seen as 'capital' which may take you over the savings threshold affecting your entitlement. Krystel
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