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Posted Fri, 27 Oct 2023 19:22:12 GMT by
Hi, Me and my mum moved to the UK in the beginning of this year, before I left my home country, my mum gave me some money. May I know whether the money she passed me before we came to the UK incur any tax? Anything related to inheritance tax, the 7 year rule? Thanks.
Posted Wed, 01 Nov 2023 10:15:26 GMT by HMRC Admin 25
Hi AMTAX,
There are no tax implications on the giving or receipt of cash gifts, but you may wish to speak to inheritance tax regarding any inheritance tax implications.
Inheritance Tax: general enquiries
You may also want to review the guidance here:
How Inheritance Tax works: thresholds, rules and allowances
Thank you. 

 

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