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Where Taxpayers and Advisers Meet

Search found 5 matches

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by Marco111
Fri Nov 29, 2019 3:30 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gifts from Surplus Income
Replies: 3
Views: 744

Gifts from Surplus Income

It has been said that for "Gifts out of Surplus Income" to qualify for IHT exemption, they should be regular. Insurance payments and ISA contributions have been given as examples of this. Would a regular contribution to someone's rent or mortgage payment qualify as such a gift and be considered exem...
by Marco111
Fri Nov 29, 2019 3:28 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Non domicile parent cash gift to daughter
Replies: 6
Views: 1785

Re: Non domicile parent cash gift to daughter

Thanks for the reply. I have had a look at the guide you mentioned and since both the daughter and grandmother are not relevant persons , and since the donor is not benefiting from the gift/loan in any way I think it looks like it should not count as a remittance by the donor. The point that I am le...
by Marco111
Thu Nov 28, 2019 6:07 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Non domicile parent cash gift to daughter
Replies: 6
Views: 1785

Re: Non domicile parent cash gift to daughter

I have another question related to this topic. It is proving quite difficult for the daughter to open an account abroad to receive the funds the father wants to gift to her. The banks seem to require very large deposits or proof of working abroad before they are willing to open the account. We were ...
by Marco111
Fri Nov 08, 2019 5:28 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Non domicile parent cash gift to daughter
Replies: 6
Views: 1785

Re: Non domicile parent cash gift to daughter

Thank you very much everyone for your replies. I appreciate the complexity of this, and that is why I am asking the opinions of the people of this forum, to benefit from their understanding of the rules. The background is as follows: This was a portfolio of funds/shares which the father had before m...
by Marco111
Tue Nov 05, 2019 4:30 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Non domicile parent cash gift to daughter
Replies: 6
Views: 1785

Non domicile parent cash gift to daughter

I am confused about gifting rules related to foreign funds abroad. HMRC changes these laws all the time, so I am not sure if what applied in the past is still relevant. Could someone please clarify what the current tax situation is when a non-domicile UK resident individual transfers cash from a mix...

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