Flucf7
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Transfer of funds from joint account overseas
I am a UK citizen and resident. If I have a joint account in Pakistan with my mother (who is a non UK citizen and resident), that earns no interest, and is 100% sourced from my mothers funds- in the event my mother passes, can these funds be transferred from the Pakistani joint account to my UK single account- and do I need to declare these funds on my tax return in the UK after transfer. Thank you -
RE: Joint account Overseas with Mother
In the event my mother passes, can I transfer the funds in the account to my single account in the UK. All the funds in the joint account are sourced from my mother. If there is no interest earned in the joint account overseas, do I need to declare these funds on my UK tax return? Thank you -
Joint account Overseas with Mother
I am a UK citizen and resident. Can I have a joint current account in Pakistan with my elderly mother who is a non UK citizen and resides in Pakistan? The funds in the account are 100% from my mother, for her benefit and I would derive no interest from these funds. Do I need to declare this account on my tax return. Thanks