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Where Taxpayers and Advisers Meet

Receiving gift from abroad

Apobet7
Posts:1
Joined:Tue Jul 18, 2017 4:06 pm
Receiving gift from abroad

Postby Apobet7 » Tue Jul 18, 2017 4:10 pm

My brother who is an EU citizen and an expat to Saudi Arabia wishes to transfer about 30k GBP to my UK Bank account as a gift. Would I have to pay any tax to this amount? Can I use part of this amount in about a year to fund my mortgage deposit. Thank you.

RMC
Posts:435
Joined:Wed Aug 06, 2008 3:35 pm

Re: Receiving gift from abroad

Postby RMC » Tue Jul 18, 2017 9:32 pm

Gifts are not taxable but you should have details of reasons behind the gift and how the bro earned or otherwise came to the money, should the authorities request it. Saudis are known to support terrorism.


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