Money gift from abroad- tax implications?

persontypething

My partner grew up in South Africa, but now lives in the UK and holds a British Passport. He is currently visiting his father in Swaziland, who proposes to make him a gift of around £10,000. He has asked me to enquire whether he will have any problems with this- what the tax implications are etc.

He plans to use around a third to go towards the mortgage and I suggested an ISA as he doesn't currently have one, but I would appreciate any advice you kind moneysavers can give me...

Cheers,
Emma

Chrismaths

It's a gift, so no tax implications. There may be some anti-money laundering checks though...

Cook_County

I assume that the gift does not breach any laws in Swaziland (eg exchange controls).

Your partner is almost certainly domiciled outside of the UK so could deposit the money offshore and pay no tax on the interest it generates if it is not brought to the UK.

Chrismaths

Not if it's a gift. The beneficial owner would be the OP, and assuming he's UK dom'd then he'd have to declare it on his tax return. The only way holding it offshore would help is if the donor didn't actually give it to the OP.