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Posted Tue, 09 Jan 2024 10:50:29 GMT by
Hi, will HMRC tax benefitators in terms of foreign estate as a part of inheritance? My dad passed away in Hong Kong. His situation would be defined as a non-domicile resident in the UK. While his benefitators are stationed in the UK and intend to do a bank transfer regarding such inheritance estate from their Hong Kong bank accounts to UK bank accounts directly, will HMRC tax benefitators accordingly? Thank you
Posted Mon, 15 Jan 2024 16:20:57 GMT by HMRC Admin 19 Response
Hi,

No, the beneficiaries will not be taxed on the capital that they receive from the estate. Any interest or dividends that this then generates is taxable income.

Thank you. 

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