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Money Matters

Inheritance Tax question

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Inheritance Tax question

Postby shrek4472 » Tue 21 Jan 2014 12:47 GMT

Always a difficult subject to touch and think of but do need to ask the question.

What is the best way of having a will constructed in the U.K. of a relative who plans to leave you something after their passing to ensure the tax implication is minimized when the time comes and it is wished to move any funds to Canada?

Appreciate any and all responses.

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Postby Graeme » Tue 21 Jan 2014 14:59 GMT

If you live in Canada and inherit funds from the UK, my understanding is that you do not pay taxes on the inheritance. I would suggest you ask an accountant this question though.
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