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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15917
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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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: 11 months ago.
Category: Tax
Expert:  TonyTax replied 11 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 and 2 other Tax Specialists are ready to help you
Customer: replied 11 months ago.
Many thanks, ***** ***** need put the amount received in my self assessment form?
Expert:  TonyTax replied 11 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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