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Posted Thu, 07 Sep 2023 09:50:39 GMT by
Hi admin. I received some money from my parents who sold a house outside uk. Then i moved into uk in Jul22 and became a tax resident. In what situation i have to report the money from parent as a Inheritance Tax or, income tax if i put those money into a saving account outside uk before im a tax resident in Jul22.
Posted Thu, 07 Sep 2023 14:23:41 GMT by
ps. the money transfer into uk in Aug22. Thank you.
Posted Fri, 15 Sep 2023 11:22:25 GMT by HMRC Admin 19 Response
Hi,

If your parents were not resident in the UK at the time of the disposal of the property, there is no Capital Gains Tax liability in the UK.  

There is no Income Tax liability in recieving a cash gift or from transferring that cash gift to a UK bank account.

Thank you.

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