If I've recieved money from my late father, do i need to declare it as other income on my tax credits renewal?

Question

I rang them up and they said I need to only declare the interest earned from my inheritance. But after reading the notes that came with my renewal pack I think it says that I need to declare money recieved from an administrator, however I am the administrator! Does this mean if the money changes hands to a second person? or when it's paid to me?

Answer 1

you pay interest on money inherited , but not on money inherited
if you inherit a retirement account such as traditional IRA, you will pay tax on that.

Answer 2

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