Query of sum transferred from abroad
Posted: Mon Nov 12, 2018 7:43 pm
Hi,
I am originally from Italy but resident and domiciled in the UK since many years. I recently received a 90k sum from my parents to help buying a property. This came from their regular savings and was processed via international bank transfer.
I am not sure if I would incur in any tax implications on this amount and if and how I should declare it with HM Revenues.
At the time of the transfer, both banks there would be no tax implications but I would like to confirm it to ensure I am compliant with rules.
Any help would be much appreciated.
Thanks!
I am originally from Italy but resident and domiciled in the UK since many years. I recently received a 90k sum from my parents to help buying a property. This came from their regular savings and was processed via international bank transfer.
I am not sure if I would incur in any tax implications on this amount and if and how I should declare it with HM Revenues.
At the time of the transfer, both banks there would be no tax implications but I would like to confirm it to ensure I am compliant with rules.
Any help would be much appreciated.
Thanks!