Paul K

I, and my siblings, have recently inherited some money, my father passed away.

Does anyone know how this works? 2 of my siblings live in the UK and 2 of us abroad, Italy and Spain.

chris120

When my father died i was in Rome and my sister lived in australia, we just had the money paid into our UK accounts. I left mine there but my sister transferred her share to Oz some months later. The amounts, in our case, were relatively small. My guess is it all depends on how much money is involved.

duffer

The IHT tax free threshold is £325,000 and then 40% tax on any amount over that sum.