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Thursday, 4 October 2023

Money, tax and benefits

Money, tax and benefits

Finding the money to pay Inheritance Tax

Paying Inheritance Tax from the deceased's bank account

Use the Direct Payment Scheme to transfer the funds from the deceased’s bank or building society account

Paying Inheritance Tax using the deceased's Government Stock

If the deceased had Government Stock - such as War Loans, Treasury Stock or Exchequer Stock - you can use these to pay

Paying Inheritance Tax using the deceased's National Savings

If the deceased had National Savings investments – such as Premium Bonds – you can use these to pay

Paying Inheritance Tax from your own funds or a joint account

You can fund a payment with your own money or pay from a joint account you shared with the deceased

Paying Inheritance Tax by transferring heritage property

You can offer to pay the Inheritance Tax due by transferring National Heritage property to the Crown - but this is rare

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Death and bereavement

Wills, probate, benefits and other things you’ll need to think about after a death

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