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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My wife will be inheriting from her Swiss father, she is

Resolved Question:

My wife will be inheriting from her Swiss father, she is Swiss uk resident with leave to remain. Is there a threshold before inheritance tax is paid and does income from the sale of some of his estate, after his death, need to be taxed as income in the uk?
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

Please confirm that the assets in the Estate were all in Switzerland

Customer: replied 1 year ago.
they were, in the fribourg canto where there is no inheritance tax
Customer: replied 1 year ago.
Sorry, canton
Expert:  Clare replied 1 year ago.

Will the Estate come to her in Cash rather than assets?

Customer: replied 1 year ago.
Initially a cash amount from his estate of approx 220,000 Swiss francsin heritance. She is also due an amount from the sale of part of her grandfathers estate company approx 187,000 Swiss francs. She will also hold 3/16 of her fathers estate which includes some of her (above mentioned) grandfathers estate company as well. It is all quite complicated!
Expert:  Clare replied 1 year ago.

In that case no tax will be payable when the money comes into her possession - although of course any income she receives from investments will be taxable in the normal way.

Assuming any tax on income from the company is paid in Switzerland she will not have to pay a second chunk here in the Uk

I hope that this is of assistance - please ask if you need further details

Clare and other Law Specialists are ready to help you