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I was left £100.000 from my Dad who was living in Oz will I have to pay income tax on this ?Thanks Mike?

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I was left £100.000 from my Dad who was living in Oz will I have to pay income tax on this ?Thanks Mike?

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  1. yes that is alot so i say the tax man will want some thing


  2. No, Inheritance Tax is payable by the estate if the deceased lived in the UK. There is no tax liability on the recipient, although you will have to pay tax on any interest earned when you invest it.

  3. No the first £300k is free of inheritance tax

  4. not on a hundred pounds you won't

  5. No.If you have a doubt get it cleared by making a anonymus call to your ATO
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