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Where Taxpayers and Advisers Meet

moving money from a family member in Hong Kong to another family member in the UK

pp2021
Posts:1
Joined:Sat Dec 18, 2021 12:30 pm
moving money from a family member in Hong Kong to another family member in the UK

Postby pp2021 » Sat Dec 18, 2021 12:48 pm

Hi!

I am now living in the UK, and I want to buy a house. My wife is now staying in Hong Kong. She will move 100,000 GBP from her Hong Kong saving account to my UK saving account so that I can buy a house in the UK. Is this money considered as a gift that there is no tax to pay on this money?

Thank you for your attention!

Regards

pawncob
Posts:4876
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: moving money from a family member in Hong Kong to another family member in the UK

Postby pawncob » Sun Dec 19, 2021 11:02 am

Spousal gifts have no tax implications, and apart from MLR considerations, the monies have no UK tax implications either.
With a pinch of salt take what I say, but don't exceed your RDA


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