I there any benefit to paying inheritance taxes within 6 months of the death? Someone has told me that it is a lot cheaper and saves on inheritance taxes if you can sell a property within 6 months of the death of the owner, but I cannot make sense of this?
Anyone have any more details?
IHT payment timing?
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Re: IHT payment timing?
I don't understand that either.
You cannot sell the property until the tax is paid. As I understand it you have 6 months before you have to pay but if you apply for an extension before 5 months are up you can get one. I'm not sure whether it's 3 or 6 months more.
Sid
You cannot sell the property until the tax is paid. As I understand it you have 6 months before you have to pay but if you apply for an extension before 5 months are up you can get one. I'm not sure whether it's 3 or 6 months more.
Sid
Re: IHT payment timing?
Thank you Sid, I knew that you would know the answer!
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