What is a block payment and what is sundry charges?
Full Question:
I am the beneficiary of a large sum of money. The fund is a Certificate of Deposit in a bank in London. I have been for the transfer of the funds into my US bank account. The British government is charging a non resident inheritance tax and said that the charge for the tax has to be paid first before transfer of the funds. Because the payment has by their bank has been fully bonded as a block payment and sundry charges can't be deducted from the fund and must be paid separately. Is this true? What is a block payment and what is sundry charges? Your answer to this will be greatly appreciated.
09/03/2007 |
Category: Wills and Estates |
State: Texas |
#8391
Answer:
A block payment is generally a payment that is pooled or aggregated, similar to a lump sum payment. Sundry means various, as in a group of charges.
