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Tax on overseas cash gift from parent?
north50k
Posts: 2 Newbie
in Cutting tax
I'm about to be given a 50k cash gift from my father who lives in the Middle East. He is not subject to UK tax law, but I am.
Is this taxable?
Is this taxable?
0
Comments
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If your father is a UK domiciliary this will be a PET.0
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There's a possibility it may be taxable wherever he lives in the Middle East - depends on local laws. If it is, it's his problem, not yours
No UK tax other than the potential for inheritance tax should he not live 7 years and leave a sufficiently large estate.0 -
Cook_County wrote: »If your father is a UK domiciliary this will be a PET.
he's not UK domiciliary.0
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