UK Discretionary Trust

[confused.com!!]

Hi!

My late grand-uncle set up a discretionary trust in the UK and this is about to be settled now. My father was the named beneficiary however he passed before my late grand-uncle.

I live in Ireland and am trying to figure out inheritance tax. I am due to inherit a sum of 70k roughly. The UK solicitor seems to be under the impression that all tact has been paid and that tax in ireland is unlikely.

I know I have to apply for a pps number but totally lost. Revenue are under the impression that I am inheriting from my father thought I don't believe this is the case but I hope I'm wrong!!

Can anyone advise?

 

[MHoran379]

You will need to go to a tax consultant for advice on this, it will depend on the terms of the trust. They will be able to help you apply for a pps number too, though if you live here shouldnt you already have one?

 

[confused.com!!]

You will need to go to a tax consultant for advice on this, it will depend on the terms of the trust. They will be able to help you apply for a pps number too, though if you live here shouldnt you already have one?

Hiya thanks for your response. I do have a pps number I was under the impression I had to apply for a pps number for my uncle (who never lived in Ireland) in order to pay inheritance tax! I will get some advice from a tax consultant but wanted to go in with my eyes semi-open!!!