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Inheritance Tax

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anneatreads | 21:18 Tue 22nd Feb 2011 | Business & Finance
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Is it correct that Inheritance Tax has to be paid up-front before any money is released from the will and who is liiable for this?
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dzug2
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Yes it is true.

National Savings and some (most??) banks will release funds to pay it but if not the executors must borrow the money.

In the case of property that is going to be sold HMRC may allow time to pay but will charge interest.
21:33 Tue 22nd Feb 2011
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Avatar Image factor-fiction
I'm not sure what you mean by 'released'.
The estate has to pay so I suppose it is the responsibility of executors
21:33 Tue 22nd Feb 2011
Avatar Image dzug2
Yes it is true.

National Savings and some (most??) banks will release funds to pay it but if not the executors must borrow the money.

In the case of property that is going to be sold HMRC may allow time to pay but will charge interest.
21:33 Tue 22nd Feb 2011
Avatar Image Buenchico
If you require further information, please see here:
http://www.hmrc.gov.u.../paying-iht/index.htm

Chris
21:38 Tue 22nd Feb 2011

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