Quote:
Originally Posted by HomerMcvie
It sure looks that way.
I know nothing about the British system, but WHY would someone be allowed to accrue such a huge tax bill? That's 38.7 million dollars.
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Our death (inheritance) tax falls due to be paid from the end of the sixth month after the end of the month of death, before interest begins to accrue. It can cause difficulty but so few people owe such large bills. The size of the tax is 40% on the amount over £325,000. I’m not sure about the figures here, but the issue will be liquidity - her executor will need to find funds to pay that bill before Probate can be granted.