The question was in there as in what would be the likely outcome. Samson22 answered it me thinks. I forgot to add that there was a couple of small debts and funeral expenses which basically bought the tax burden to a few hundred pounds which the executor paid. Im thinking as relevant paperwork has been filed and tax paid HMRC are probably thinking the estate has been finalised.
My concern now is if the executor goes cap in hand to HMRC and says oh sorry i forgot about this 950k Mr taxman is going to ask a lot fo awkward questions.
Would this be a fair assumption?
Thanks.
For what What its worth call it possibly very immoral but the executor is liable for the inheritance bills thus they would not go after and you as beneficiary so I dont think you personally would need to worry. (but maybe if no luck with him they go after you I really don't know) I read somewhere executor paid a inheritance tax bill only for the beneficiary not reimburse for amount paid from the was estate.
re the cgt if they looked into the matter it would be obvious something has cracked on but if they fail to do so they would just process it like so many returns but they sure have a long time limits for you to look over your shoulder to say the least. Not to mention the penalties would take the amount payable even higher
As i stated earlier without knowing the full details of what the 600k in assets omitted were I am just staggered they did pick something up with all the tech they have.
But perhaps some more esteemed and informed have more pertinent thoughts than I will come your way.