FAQs - Beneficiaries

• How does the payment I received from an estate affect my tax liability?
  
• How does it affect my tax if I get the whole or part of the residue of an estate?
  
• I have received a legacy from an estate. How does it affect my tax liability?
  
• How do I reclaim tax paid on my trust income?
  
• What is the difference between a legacy and the residue of an estate?
  
• How will I know how much estate income to enter on my tax return?
  
• The personal representatives received income that was treated as part of the estate for inheritance tax purposes. Can I, as beneficiary, claim tax relief for this?
  
• I am the beneficiary of an estate. Will I be liable to Capital Gains Tax?
  
• I have claimed my legal rights under a Scottish estate. How does it affect my tax?