Cash inheritance

Dodgysailor

Hi all,
My dad who lived in Spain for the last 30 years died and as his only son I have inherited his house but also around 10,000 euros that he kept always hidden in his safe as he did not trust banks too much. My question is I know I can bring up to 10000 euros to the UK but what will happen when I put them in the bank account in the UK from a tax point of view? do I need to declare it? What is the best way to keep the money away from the taxman? Needless to say that this money has not been declared in the inheritance.
Any advice will be appreciated

oldbikebloke

needless to say your username suggests you share your father's approach to tax dodging 
however, if you post some truthful facts on here we can steer you correctly without you needing to commit UK tax evasion.

- father died in Spain where he had lived for 30 years. Please confirm his estate was dealt with under whatever passes for inheritance law in Spain?

- you as the beneficiary of his estate do not pay UK tax on the estate of an overseas person 
- failure to declare to Spain is of no concern to HMRC as it is outside their jurisdiction 

Dodgysailor

Thanks for quick response, my Dad also known as DodgyDog in some forums left a house and we have a Spanish lawyer taking care of that. The house will be eventually be sold or rent I am not sure. 
The bit over 10000 euros that he had in the safe will be taken to the UK but my concern was what do i need to do with the money in the UK. From what you are saying I could put the money in the bank without worries?

Grumpy_chap

What is the threshold at which currency has to be declared at borders?

Jeremy535897

Grumpy_chap said:

What is the threshold at which currency has to be declared at borders?

None at present from EU countries. Banks should ask about deposits over 10,000 euros (and may ask about smaller amounts, if it is unusual for the customer to bank cash). Proof of source would be handy to have with you.

Dodgysailor

I always thought that the threshold is 10000 even within EU countries.

Jeremy535897

Dodgysailor said:

I always thought that the threshold is 10000 even within EU countries.

It can be if you are taking money from the UK into certain EU countries, but not the other way round.

xylophone

https://www.gov.uk/bringing-cash-into-uk

Grumpy_chap

The amount left in cash should have been declared as part of the estate and handled as like any other part of the inheritance.

oldbikebloke

Dodgysailor said:

. From what you are saying I could put the money in the bank without worries?

since it is physical cash your UK bank may feel it needs to ask where it came from, and
an overseas inheritance is of course the right answer. 

from Jan 20202, euro 10k is now the money laundering threshold at which checks are required, but what your bank will require in your case I have no idea. Although I doubt it would be sight of a document from Spain stating "contents of safe left to son". It may simply be you just need to show that you have indeed inherited from your recently deceased parent, nothing unusual about that after all.

oldbikebloke

Grumpy_chap said:

The amount left in cash should have been declared as part of the estate and handled as like any other part of the inheritance.

patently, but it hasn't, so that is irrelevant 
OP simply needs to explain where a "sizable" sum in cash has come from for UK anti money laundering purposes. That depends on the level of training and state of alertness of the bank cashier when he pays it in.