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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13917
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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My brother died last October at the age of 55 l have just

Resolved Question:

My brother died last October at the age of 55 l have just received a payment of £58.000 from Global in Hong Kong from a pension he invested out there. As well as this he had a pension with prudential for 32.000 with which they sent information to keep for the HMRC. Do l pay tax on this and how do l do it .
Submitted: 12 months ago.
Category: Tax
Expert:  Sam replied 12 months ago.

Hi

Thanks for your question- I am Sam and I am one of the UK tax experts here on Just Answer.

Did this payment come to you directly or through your late brothers estate - have you a solicitor handling your brothers estate?

As all of the monies or assets he holds will just need to be reviewed for Inheritance tax - if as yet you have done nothing then you should go through the advsie on the Gov website link here

https://www.gov.uk/inheritance-tax/overview

https://www.gov.uk/wills-probate-inheritance

If your brother was working it may well be he is owed tax overpaid - so its often best to get a solicitor to mange everything in one place and ensure all the relevant legal aspects are undertaken as if any tax is due on these amounts its not on you but the estate to pay.

Let me know if I can assist further - I am due to head out to client meetings soon but will be back later this afternoon/early evening if you have any follow up questions

Thanks

Sam

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