When it comes to paying inheritance tax, it has to be done within six months of the death – after this point, HMRC will begin to charge you interest.In general, the tax will be taken out of the inheritance, and in most instances the deceased person will have appointed an executor, who will take care of this process. However, if you happen to be the legal heir, and there’s no Will, it’ll be your responsibility to designate somebody to administer the deceased person’s estate.