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Where Taxpayers and Advisers Meet

foreign gift Tax?

Alice123
Posts:2
Joined:Tue Feb 14, 2017 3:44 pm
foreign gift Tax?

Postby Alice123 » Tue Feb 14, 2017 3:50 pm

Hello, i am a UK resident (working in the UK since 1,5years) but German nationality.

I received a gift from father of 200.000€, paid into my UK bank account. Do I have to pay tax on it? My father has never lived in the UK.

As far as I understand, I don't have to pay any tax over it, but I am not sure.

Do I have to submit a tax return report, or declare this money in any document?

Thanks!

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: foreign gift Tax?

Postby Lee Young » Wed Feb 15, 2017 9:32 am

There is no tax for you to worry about here in the UK
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701

Alice123
Posts:2
Joined:Tue Feb 14, 2017 3:44 pm

Re: foreign gift Tax?

Postby Alice123 » Wed Feb 15, 2017 9:35 am

Thank you for your reply!

I don't have to do any tax form or declare the money I received in any document?

Thanks

Lee Young
Posts:2707
Joined:Wed Aug 06, 2008 3:26 pm
Contact:

Re: foreign gift Tax?

Postby Lee Young » Wed Feb 15, 2017 10:44 am

Correct
Lee Young
Solicitor, Chartered Tax Adviser and Trust and Estate Practitioner


Partner, Frettens LLP
lyoung@frettens.co.uk
01202 491701


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