🚨INHERITANCE TAX WARNING |6 MONTHS TO PAY | BUT YOU CAN’T SELL THE HOUSE YET!

#inheritancetax #inheritance #ukpensioners #retirees 🚨INHERITANCE TAX WARNING: 6 MONTHS TO PAY — BUT YOU CAN’T SELL THE HOUSE YET! Inheritance Tax can be due within six months, but what happens when the money is tied up in the family home? This video explains the executor’s responsibility and the difficult gap between paying tax and selling the house. If you are an executor, or you may one day be responsible for handling a family estate, this is an important situation to understand. We look at how Inheritance Tax is paid, who is responsible for it, and why an executor can still face liability even when beneficiaries have agreed to pay. The video explains the £325,000 nil rate band, the £175,000 residential nil rate band, and how the allowances can work for married couples and civil partners when a home passes to direct descendants. It also looks at why frozen allowances can matter when property values have increased. You will also see why the six-month Inheritance Tax deadline can become difficult when the estate's main asset is a house. The tax is due by the end of the sixth month after the month of death, while the property sale cannot complete until probate is granted. The video walks through the IHT400, HMRC's unique code, probate delays and the potential ways an estate may deal with the tax before the house is sold. We also look at instalment payments, direct payment from banks or building societies, and applying for probate on credit where the estate cannot raise enough money. The two illustrative £1.4 million estates show how two families with the same estate value and tax bill can face very different cash-flow problems. * How the £325,000 nil rate band works * The £175,000 residential nil rate band * Who can be responsible for Inheritance Tax * Why executors can face liability * Why the six-month tax deadline matters * How Inheritance Tax can be paid before a house is sold * Instalments, direct payment and probate on credit * Why executors should be careful before distributing assets 👍 If this video helps you understand the responsibilities involved, please like the video. 🔔 Subscribe to Pension and Benefits Guide for clear and simple money information. 💬 Would you agree to become an executor for a family member? Share your experience, opinion or questions in the comments. 📤 Share this video with friends and family who may be dealing with an estate or could be asked to become an executor. VIDEO TIMELINE 00:00 Introduction: Would You Become an Executor? 00:45 Inheritance Tax Allowances Explained 01:45 Who Is Responsible for Inheritance Tax? 02:35 The Executor Liability Warning 03:25 The 2018 Tax Tribunal Case 04:15 Inheritance Tax and Pensions From April 2027 04:45 The Six-Month Inheritance Tax Deadline 05:45 Why Selling the House Can Be Difficult 06:45 Ways to Pay Inheritance Tax Before Sale 07:35 Two £1.4 Million Estate Examples 08:25 Final Executor Warnings This video explains how Inheritance Tax works for UK estates, including the six-month payment deadline, executor liability, probate and the problem of paying tax when the main asset is the family home. It is particularly useful for UK pensioners, retirees, over-60s and anyone who may become an executor or deal with a family estate. #inheritancetax #inheritance #ukpensioners #retirees #hmrc #executor #estateplanning #over60style