Recently my grandfather passed away. He used to give me financial aid and helped me through school, university and with paying my rent until I got a job.
Anyway my grandmother has decided to send me a large sum of money in his memory as a gift ~ £500k. She is a Swiss citizen and has no links with the UK. I am of UK/Swiss nationality and live in the UK. The money would be transferred from one account to another in the same Swiss bank.
A tax advisor in Switzerland believes that I would not have to pay tax on this gift. Any opinions here would be appreciated?
Cash Gift from Switzerland
3 posts • Page 1 of 1
Cash Gift from Switzerland
by mag man on Thu Oct 29, 2009 12:15 pm
- mag man
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Re: Cash Gift from Switzerland
by pawncob on Thu Oct 29, 2009 12:18 pm
There are no UK taxes involved.
There may be capital taxes due in Switzerland, either now or on death.
There may be capital taxes due in Switzerland, either now or on death.
With a pinch of salt take what I say, but don't exceed your RDA
- pawncob
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- Location: West Sussex
Re: Cash Gift from Switzerland
by mag man on Thu Oct 29, 2009 12:56 pm
Thank you for your answer, regarding the Swiss side we have a tax advisor helping us with the transfer.
- mag man
- Posts: 2
- Joined: Thu Oct 29, 2009 12:07 pm
3 posts • Page 1 of 1
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