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Gift - Tax, Capital gain etc
ozdemirozgur
Posts: 120 Forumite
Hi,
my family would like to give me a gift. they are living out of EU, and not UK citizen, but I am UK tax payer, and live here. Do I need to pay any tax on the money coming from them ?
my family would like to give me a gift. they are living out of EU, and not UK citizen, but I am UK tax payer, and live here. Do I need to pay any tax on the money coming from them ?
0
Comments
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ozdemirozgur wrote: »Hi,
my family would like to give me a gift. they are living out of EU, and not UK citizen, but I am UK tax payer, and live here. Do I need to pay any tax on the money coming from them ?
there is no gift tax in the UK so you pay no tax0 -
Is it regardless of the amount ?0
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ozdemirozgur wrote: »Is it regardless of the amount ?
there are no gift taxes in the UK
there are inheritance taxes rules that would apply if your relative was resident here but that doesn't seem to be the case.0 -
Your relative might need to check whether there is a gift tax in their country of tax residence?0
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