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  • FIRST POST
    • nicky_boo
    • By nicky_boo 7th Dec 17, 12:00 PM
    • 72Posts
    • 28Thanks
    nicky_boo
    Inheritance from overseas - do I need to pay tax?
    • #1
    • 7th Dec 17, 12:00 PM
    Inheritance from overseas - do I need to pay tax? 7th Dec 17 at 12:00 PM
    Hi,

    I have dual nationality but I am a UK resident. My parents were Turkish and they lived in Turkey. I have HSBC accounts here and in Turkey - opened them after my mother's death in 2014 and I transferred some inheritance money in 2016 from Turkey to here to pay some of my mortgage.

    I recently lost my dad and there will be some inheritance when we sell his house. I would like to bring this money to the UK. It is not going to be a lot of money but I am a little worried as HMRC has sent me a letter last year asking me to come clean if I owe tax for the money coming from Turkey. I believed there wasn't as I only transferred the inheritance and not all of it and I didn't take any action after that letter.

    To be honest, I don't even know who to contact or what help to get. Any advice will be appreciated as I don't want to get in trouble with HMRC.

    Thanks for reading.
Page 1
    • Keep pedalling
    • By Keep pedalling 7th Dec 17, 12:42 PM
    • 4,089 Posts
    • 4,443 Thanks
    Keep pedalling
    • #2
    • 7th Dec 17, 12:42 PM
    • #2
    • 7th Dec 17, 12:42 PM
    You do not pay tax on your inheritance, but if HMRC don’t know the source of this cash they are entitled to ask the question.
    • agrinnall
    • By agrinnall 7th Dec 17, 1:31 PM
    • 18,747 Posts
    • 14,445 Thanks
    agrinnall
    • #3
    • 7th Dec 17, 1:31 PM
    • #3
    • 7th Dec 17, 1:31 PM
    If HMRC sent you a letter doesn't it tell you who you need to contact?
    • nicky_boo
    • By nicky_boo 7th Dec 17, 2:55 PM
    • 72 Posts
    • 28 Thanks
    nicky_boo
    • #4
    • 7th Dec 17, 2:55 PM
    • #4
    • 7th Dec 17, 2:55 PM
    No, they don't tell me who to contact. It is a generic warning letter and pretty hopless really. It says contact a tax adviser. Also, there is a link to a general HMRC disclosure website. It is so frustrating as I cannot find any specific information anywhere.
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