Taxation of Investment Bond Gains - Policy owner = exactors of estate
A bit of a weird one...
Our client holds an Investment Bond. The Policy Owner is Mr xxx (Dec'd) & Mrs XXX as Executors of Mrs xxx (Dec'd)(mum). So basically the policy holder of said bond are the executors the estate of an individual who died 3 years ago. Mr xxx has just died and he was the remaining life assured and therefore the bond ends and we have a chargeable event certificate.
By question is, how do we declare the gain and who pays the tax?
Any help or pointers would be greatly appreciated!
Thank you :-)