Payments By Mistake

Drico1984

Hi all,

Hoping for any help with the below,

I accidentally transferred an amount of £10k (extra zero) to my fiancee this has already been taxed at source- she has not been requested any tax to be paid, is it ok if she now transferrs the 9k back or will this have tax implications for myself (Even tho I have already paid tax on the full amount at source) Do I need to contact the bank before switching back.

Thanks,

AlanP_2

It isn't earned income so tax should not come into it so can't see any problem with your finacee transferring it back to you.

thenudeone

There is no tax on gifts in the UK, of any size, so there will be no tax implications of returning it.

colsten

Drico1984 wrote: »

I accidentally transferred an amount of £10k (extra zero) to my fiancee

Could you please also accidentally transfer an amount of £10K with extra zeroes to me. Sort code 90-12-47 account number 0987 4231. Muchos gracias.