R
rabbit
Guest
A friend has the following problem.
About a year ago, her elderly father got a very large tax bill, which had accumulated over several years. Her monther had passed away previously. Even though the tax was payable by her father, because he was in poor health (and had not ready access to such liquid funds ), she herself paid it, as it was attracting interest + penalties etc as it was. Her father has since passed away. While she is a named beneficiarry on the will, she is wondering if she is now entitled to repayment of the money she paid ( out of her own bank a/c ) from the estate, if she wanted to ? There is no mention of it on the will. If not, can she reduce her inheritance tax as a result of the money she gifted her father last year ?
Someone may have come up with a problem like this before. Thank you in advance for any replies.
About a year ago, her elderly father got a very large tax bill, which had accumulated over several years. Her monther had passed away previously. Even though the tax was payable by her father, because he was in poor health (and had not ready access to such liquid funds ), she herself paid it, as it was attracting interest + penalties etc as it was. Her father has since passed away. While she is a named beneficiarry on the will, she is wondering if she is now entitled to repayment of the money she paid ( out of her own bank a/c ) from the estate, if she wanted to ? There is no mention of it on the will. If not, can she reduce her inheritance tax as a result of the money she gifted her father last year ?
Someone may have come up with a problem like this before. Thank you in advance for any replies.