Dear Forum
My Mother passed away July 2014. The administration period has now finished. I have advised the Inland revenue who asked me to send in details of the final accounts, this was in December 2014. There was no inheritance tax due as the total was under the £325K threshold. All her tax was paid at source. An offer on her house was accepted just a few weeks after her death. I believe that no more tax is payable to the Inland revenue.
My question is will the tax office send me a letter to advise me that I can now close my Mother's estate finances and pay out to beneficiaries? Should I wait until the end of the tax year and then pay money out if the Tax Office have not contacted me?
I know that I can ring them but would prefer to have something from them in writing. What do solicitors do?
Thank you for any advice.
My Mother passed away July 2014. The administration period has now finished. I have advised the Inland revenue who asked me to send in details of the final accounts, this was in December 2014. There was no inheritance tax due as the total was under the £325K threshold. All her tax was paid at source. An offer on her house was accepted just a few weeks after her death. I believe that no more tax is payable to the Inland revenue.
My question is will the tax office send me a letter to advise me that I can now close my Mother's estate finances and pay out to beneficiaries? Should I wait until the end of the tax year and then pay money out if the Tax Office have not contacted me?
I know that I can ring them but would prefer to have something from them in writing. What do solicitors do?
Thank you for any advice.