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Where Taxpayers and Advisers Meet

Buying a gift for someone abroad

alistair.reynolds
Posts:2
Joined:Fri Mar 03, 2017 1:50 pm
Buying a gift for someone abroad

Postby alistair.reynolds » Fri Mar 03, 2017 1:54 pm

Hi,

My fiancee from China sometimes buys things in the UK for her friends in China, and then they pay her back. Normally this is for small things, but someone wants a bag here for £7,000, so I'm worried about tax issues.

If she transfers money from her Chinese account into my UK account, then I use that to buy the bag with, would there be any tax implications?

pawncob
Posts:4879
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Buying a gift for someone abroad

Postby pawncob » Sat Mar 04, 2017 10:31 pm

Not unless she's selling things at a profit. Presumably they just reimburse her.
With a pinch of salt take what I say, but don't exceed your RDA

alistair.reynolds
Posts:2
Joined:Fri Mar 03, 2017 1:50 pm

Re: Buying a gift for someone abroad

Postby alistair.reynolds » Sun Mar 05, 2017 10:29 am

OK, that makes sense. So there would need to be some kind of proof on their end that she sells it at a profit I assume, like if she did it for a lot of bags instead of just the one.

Thanks for the info!

bd6759
Posts:3745
Joined:Sat Feb 01, 2014 3:26 pm

Re: Buying a gift for someone abroad

Postby bd6759 » Sun Mar 05, 2017 11:25 am

Definitely keep recepits (or copies of them), and match your purchases with monies received.

Your biggest problem will be banks seeing regular international transfers. They might consider that suspicious and will need to report it.

AGoodman
Posts:1419
Joined:Fri May 16, 2014 3:47 pm

Re: Buying a gift for someone abroad

Postby AGoodman » Mon Mar 06, 2017 7:59 pm

And presumably there could be customs issues and import duty payable as well (presumably Chinese rather than UK customs).


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