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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Do I have a tax liability as a beneficiary of my late wife's

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Do I have a tax liability as a beneficiary of my late wife's will? No inheritance tax was due.
My wife's savings were part of our shared Pension and Care funds, would that also attract tax?


Cash and assets left to a surviving spouse are exempt from Inheritance Tax. You won't pay tax on the capital you receive. Any income the cash and assets produce in your hands will be taxable on you. If you inherited a source of income from your late wife such as a pension, the income you receive will be taxable.

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

TonyTax and other Tax Specialists are ready to help you
Hi again.

It's been a few days since I answered your question. Is there anything you need further clarification on?