- Private Wealth
- Tax & Estate Planning
- Trusts
Shorter Reads
1 minute read
Published 19 September 2018
The Telegraph reports this morning that many executors are not aware that they are liable to pay taxes on income produced by estate assets during probate.
Executors are personally liable to pay the tax and therefore, if they distribute the whole estate thinking there is nothing else to pay, they may find themselves hit with a liability they do not have the funds to meet.
Assets such as cyrptocurrencies and more sophisticated investments can make estates more complex and executors may feel that they need to take an increased amount of advice to ensure that all liabilities are dealt with properly.
https://www.telegraph.co.uk/tax/inheritance/watch-hidden-death-tax-eating-investments/
Shorter Reads
Published 19 September 2018
The Telegraph reports this morning that many executors are not aware that they are liable to pay taxes on income produced by estate assets during probate.
Executors are personally liable to pay the tax and therefore, if they distribute the whole estate thinking there is nothing else to pay, they may find themselves hit with a liability they do not have the funds to meet.
Assets such as cyrptocurrencies and more sophisticated investments can make estates more complex and executors may feel that they need to take an increased amount of advice to ensure that all liabilities are dealt with properly.
https://www.telegraph.co.uk/tax/inheritance/watch-hidden-death-tax-eating-investments/
Need some more information? Make an enquiry below.
Enjoy reading our articles? why not subscribe to notifications so you’ll never miss one?
Subscribe to our articlesPlease note that Collyer Bristow provides this service during office hours for general information and enquiries only and that no legal or other professional advice will be provided over the WhatsApp platform. Please also note that if you choose to use this platform your personal data is likely to be processed outside the UK and EEA, including in the US. Appropriate legal or other professional opinion should be taken before taking or omitting to take any action in respect of any specific problem. Collyer Bristow LLP accepts no liability for any loss or damage which may arise from reliance on information provided. All information will be deleted immediately upon completion of a conversation.
CloseCollyer Bristow wins ‘Law Firm of the Year’ at CityWealth Magic Circle Awards
© 2023 Collyer Bristow LLP
© 2023 Collyer Bristow LLP
Latest from Collyer Bristow
If it's urgent, please
call +44 20 7242 7363
< Back to menu
I have an issue and need your help
Scroll to see our A-Z list of expertise
< Back to menu
I'd like to just search for something