Have you received a large gift from someone who has died? Was it in the last 7 years immediately before death?
If you answered yes to these questions contact the deceased’s personal representatives handling the deceased’s affairs. Failure to do so could lead to you facing penalties of at least 50% of the unpaid tax on the gift in addition to the tax to be paid on the gift.
For more information, contact Samantha Downs in 0116 2628596 or Samantha.downs@dodds-solicitors.co.uk