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Posted Fri, 03 Feb 2023 12:22:09 GMT by Joe
I am a Swiss citizen living in the UK and pay UK taxes. My late parents lived in Switzerland. Under Swiss tax rules, my mother was responsible law to pay all taxes on all assets up to her death, but from the time of her death the heirs are responsible individually for paying relevant taxes according to the tax rules of where they live even before the estate is divided among heirs. (This is different from the UK, where the income to the estate is taxed for the estate as a whole until it is divided among heirs, as far as I understand.) My question is about the period from my mother's death to the time when the estate will be divided among her heirs and my share will be transferred to me here in the UK: do I have to pay income tax on interest on an inheritance from when my part of the inheritance is transferred to me, or do I have to pay UK income tax for my share of interest income accruing to the estate even before it is divided? In other words, does my UK income tax liability start when my inheritance is transferred to me, or does it already apply before the estate is divided, when I only have a future claim on a share of the estate? Thank you for any help you can provide.
Posted Wed, 08 Feb 2023 13:45:53 GMT by HMRC Admin 25
Hi Joe,

The only income tax consequence of transferring money inherited from overseas to a UK account would arise if and when any interest (which may be taxable) is generated.

Tax on savings interest

For advice re: any UK Inheritance Tax implications, please call our dedicated helpline:  

Inheritance Tax: general enquiries

Thank you. 


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