This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Inherited money in Japan

popmonk
Posts: 1
Joined: Mon Nov 26, 2018 1:33 pm

Inherited money in Japan

Postby popmonk » Mon Nov 26, 2018 1:53 pm

I have been a resident in UK for almost 20 years and I inherited some money from my father in Japan earlier this year.
My father never lived in UK nor visited UK and he was a Japanese. I paid inheritance tax in Japan earlier this year and the rest of the money has been in my account in Japan and I have no plan to transfer the money to UK at the moment.
In this case, do I need to pay any tax to UK? I was a homemaker during 2017-2018 tax year and no income but I am wondering if I need to fill in tax form because of the inherited money.

Any advice would be much appreciated.

pawncob
Posts: 4280
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Inherited money in Japan

Postby pawncob » Tue Nov 27, 2018 4:18 pm

No UK tax is due on inheritances from abroad.
Tax will only arise when you gift the money to someone else if the gift exceeds the lifetime gift allowance.
With a pinch of salt take what I say, but don't exceed your RDA


Return to “International Tax”