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Posted Mon, 22 Jan 2024 20:55:20 GMT by
Hello.. I would like to transfer from my Romanian bank account to my UK bank account savings obtained in Romania,before i became UK tax resident.. I do understand i don't have to pay tax on thant money right?,but how do you prove if asked(by bank,hmrc,etc) that those savings are actually made before i became Uk resident/tax payer ??? Also i don't understand how does it work with money that are gifted by non residents and of course also not taxable? I can basically ask my sister,mother,father from Romania to transfer any amount of money to my UK bank account and just say it's a gift??and that's it end of story?tax wise? Can you please clarify that aspect for many of us that are UK residents/citizens and previous where living in other countries... You did reply to an Italian person who is UK resident now,and the sum was 500k , which is a bog number if you ask me, same gift, and you said yes,no tax.on that money as is It's that easy? Or you.will investigate that transaction further, to see if it really is or something else... Also read in other post that normally a bank transfer to UK is "safe" non suspicious because its from.another bank,so money are legit... Thank you in advance T.
Posted Thu, 25 Jan 2024 04:44:54 GMT by
Posted Thu, 25 Jan 2024 14:51:08 GMT by HMRC Admin 2

You can transfer the capital without paying UK tax. If it is a gift you may need to provide evidence at a later date so you may want something in writing.

If straight from your bank, your bank statements will confirm when the income was paid into the account and this should confirm it is before you came to the UK.

Thank you.
Posted Thu, 25 Jan 2024 15:07:56 GMT by
Something in writing from my parents who just sold a piece of land to help me with a deposit for a house in UK,understood.. Like a letter, email? Has in English as they are Romanians and not very good with the English language... Can you please tell me how the wording should be in the letter as i want to do this wright... Thank you in advance...
Posted Tue, 30 Jan 2024 10:49:40 GMT by HMRC Admin 19

We can only provide general information, and, or guidance in this forum. We cannot give you legal or financial advice. For an answer to a question of this nature, you would need to seek professional advice.

Thank you.
Posted Thu, 01 Feb 2024 11:48:03 GMT by
Ok thank you... I will ask a tax advisor just to be on the safe side...

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