I inherited from one of my parents and paid tax by filing the IT38 with Revenue a few years ago. I was over the threshold for a child.
The estate is now ready to wind up and the accountant is about to de-register it with Revenue. He returned 3 years of tax returns to the end of 2019.
There is now a circa 6k residue left in the estate’s bank account due to be split equally between myself and my sister as the joint beneficiaries of the residue.
What’s the process to pay tax on the 6k? Do we just submit another IT38 each and send revenue a cheque for 1k each?
Many thanks.
The estate is now ready to wind up and the accountant is about to de-register it with Revenue. He returned 3 years of tax returns to the end of 2019.
There is now a circa 6k residue left in the estate’s bank account due to be split equally between myself and my sister as the joint beneficiaries of the residue.
What’s the process to pay tax on the 6k? Do we just submit another IT38 each and send revenue a cheque for 1k each?
Many thanks.