Inheritance Tax Questions

[azraella]

Re my mother recently died - my sister is in UK dealing with the estate - I am in the USA. We may have to pay Inheritance Tax.As sister is taking charge of this. in UK - does she pay the whole bill from the estate and her own money to HRMC?If its not her responsibility how am I supposed to pay my half that I owe?Who is supposed to inform me how much I owe and how I pay it and where?Does HRMC inform me what I owe?Or does her accountant or sister tell me what I owe?Does she get a reference no. from HRMC and I use that one?thank you for any help on this

[des8]

Sorry to hear of your loss

The estate pays the IHT, the person responsible is the executor and normally uses either money from the estate or their own, or a bank loan!
However if their are trusts involved it could be the trustees, and for gifts prior to death on which IHT is due the recipient is liable.

If ready cash is not available it may be payable in instalments over 10 years (with interest!)**https://www.gov.uk/paying-inheritanc...ly-instalments

[azraella]

Thank you for your time.I appreciate it. I just learnt I am co-executor.Who is responsible for telling me what I owe - my sisters accountant, my sister or HRMC? Thanks again

[des8]

As an executor you owe nothing.
Your costs (excluding time) are paid out of the estate.
IHT is paid by the estate

As you are out of the UK are you intending to let your sister obtain probate, but reserve power to yourself so you can step in later if necessary?