Sending money from China to buy property in the UK.

Sending money from China to buy property in the UK.

Postby bz1 on Sat Oct 15, 2011 10:08 pm

Hi there.
Hope somebody can help me, My wife and I are thinking of buying a property, My inlaws have sold a property in China and want to send the funds as a decent deposit to get us going with a mortgage.

How do we prove the money is from a legitimate sale? and is it subject to tax?

Thanks for reading.
bz1
 
Posts: 2
Joined: Sat Oct 15, 2011 10:00 pm

Re: Sending money from China to buy property in the UK.

Postby mullet on Sat Oct 15, 2011 10:54 pm

How do we prove the money is from a legitimate sale?
Have it transferred through the banking system rather than cash stuffed into several brown envelopes. Ask for a copy of the sale "deed" or similar.
and is it subject to tax?
No, not in your hands.
mullet
 
Posts: 2789
Joined: Fri Nov 06, 2009 9:26 am

Re: Sending money from China to buy property in the UK.

Postby bz1 on Mon Oct 17, 2011 8:33 pm

Thanks Mullet.
bz1
 
Posts: 2
Joined: Sat Oct 15, 2011 10:00 pm


Return to International

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers