Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 30 Jul 2022 22:11:16 GMT by abenno
Will I have to pay income tax on inheritance money received from Australian relative? I'm a British national.
Posted Tue, 02 Aug 2022 12:39:22 GMT by HMRC Admin 2
Hi,

No Income Tax is due on money received from an overseas inheritance.

You may have to declare any interest that arises when the money is deposited in your UK bank account.

Thank you.
Posted Tue, 02 Aug 2022 13:45:51 GMT by SamC79 Ci
Hi. I have been gifted a large some of money last year, roughly £100,000. The person gifting the money lived in Canada and was Canadian citizen. I am based in England, UK citizen. The person who gifted the money has recently passed away. Please advise if the money will be subject to inheritance tax and what now needs to be done. No other amounts / houses etc left in the will. Thanks
Posted Tue, 02 Aug 2022 14:36:26 GMT by HMRC Admin 17

Hi,
 
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 .

See links:

How Inheritance Tax works: thresholds, rules and allowances   and   :

Inheritance Tax: general enquiries   .

Thank you.

 
Posted Tue, 02 Aug 2022 21:37:10 GMT by SamC79 Ci
Thank you. I've looked at the links given. If no other amounts gifted within the previous 7 years then am I correct in thinking that no inheritance tax is due ? Do I need to notify anyone ? Thanks
Posted Wed, 03 Aug 2022 09:58:16 GMT by HMRC Admin 17

Hi,
 
As the payer of the gift was not UK resident there is no UK inheritance tax to pay.

However, you may want to contact the Canadian tax authorities to ascertain if the £100,000 should be included as part

of the estate and accounted for in their Inheritance Tax Laws   .

Thank you.

 

You must be signed in to post in this forum.