What is the current Inheritance Tax threshold?
If the person died after 6th April 2009 it is £325,000.
Who is responsible for paying Inheritance Tax when someone dies?
To obtain a Grant of representation the personal representatives must pay all the inheritance tax for which they are liable when they deliver their account to the Inland Revenue.
Does it all have to be paid at once?
Not if the personal representatives do not wish to pay it. In the case of certain property the tax may be paid in 10 yearly instalments with the first instalment falling due 6 months after the end of the month of death. We can advise you on what assets the instalment option is available.