How much amount can be transferred From UK to India to Parents as maintenance

Posted Thu, 20 Jul 2023 05:40:59 GMT by

1. How much can be transferred From UK to India to own Parents as maintenance or related living costs? Is there any tax implications in UK for this? 2. How much amount can be transferred to own Parents as gift? Is there any tax implications in UK for this? 3. How much amount can be transferred to own account to India? Is there any tax implications in UK for this?

Posted Thu, 27 Jul 2023 08:34:03 GMT by HMRC Admin 25 Response

Hi aninditag,
There are no tax implications on transferring money from a UK bank to an overseas bank.
You may wish to speak to Inheritance Tax team regarding any Inheritance Tax implications:
How Inheritance Tax works: thresholds, rules and allowances and
Inheritance Tax: general enquiries
Thank you.

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