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TonyTax
TonyTax, Tax Consultant
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Do i need to pay tax on my inheritance received from Italy

Customer Question

Do i need to pay tax on my inheritance received from Italy when my parents death, I am ital***** *****ving in the UK
Submitted: 9 months ago.
Category: Tax
Expert:  TonyTax replied 9 months ago.

Hi.

Recipients of gifts or inheritances don't pay tax on them in the UK. Your parents will not have been liable to UK Inheritance Tax unless they had UK assets at the time of their death or within seven years previous that had been gifted away and even if that were the case, any UK IHT liability would have been paid by the executor of the estates with any balance coming to you.

I hope this helps but let me knowe if you have any further questions.

TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15886
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
TonyTax and other Tax Specialists are ready to help you
Customer: replied 9 months ago.
Many thanks, ***** ***** need put the amount received in my self assessment form?
Expert:  TonyTax replied 9 months ago.

No, you don't. However, keep a record of it in case you are asked about it in the future.

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