Tax on property, money and shares you inherit

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You do not usually owe any tax on an inheritance at the time you inherit it.

Inheritance Tax

The personal representative (an executor or administrator) for the estate usually pays any Inheritance Tax due before giving you the inheritance.

HM Revenue and Customs (HMRC) will contact you if you have to pay any Inheritance Tax yourself. This may happen if:

Other taxes

After you inherit you may have to pay:

  • Income Tax on any profit you earn from an inheritance (for example, dividends on shares or rental income from a property)
  • Capital Gains Tax when you sell anything you inherited