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Where Taxpayers and Advisers Meet

Cash gift from UAE

dectree123
Posts: 2
Joined: Sun Jul 07, 2019 10:45 am

Cash gift from UAE

Postby dectree123 » Sun Jul 07, 2019 10:53 am

Hello,

My understanding is that tax is usually not due when receiving cash gifts from abroad.

However, I received a cash gift from my parents from the UAE and there was no dual taxation agreement in place at the time. I should mention that my parents are not UK nationals and that they are not domiciled in the UK and that they have no financial link to the UK. I should also mention that I am domiciled in the UK and that I pay all my taxes here.

I would like to know whether the absence of this agreement changes my liability to pay tax on this gift.

Thank you!

darthblingbling
Posts: 240
Joined: Wed Aug 02, 2017 9:09 pm

Re: Cash gift from UAE

Postby darthblingbling » Sun Jul 07, 2019 4:50 pm

No UK tax issues.

If its a particularly large sum it may flag for money laundering questions however

dectree123
Posts: 2
Joined: Sun Jul 07, 2019 10:45 am

Re: Cash gift from UAE

Postby dectree123 » Mon Jul 08, 2019 4:34 pm

Thank you for your reply! Should I assume from your answer that you considered the lack of dual tax treaty between the UK and UAE?

darthblingbling
Posts: 240
Joined: Wed Aug 02, 2017 9:09 pm

Re: Cash gift from UAE

Postby darthblingbling » Mon Jul 08, 2019 4:56 pm

There is a tax treaty, but this doesn't apply to inheritance tax.


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