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  • Interest-free loan from parents abroad to help pay UK mortgage

    Dear HMRC, I am tax resident in the UK. My parents (who live and are tax resident in Italy) would like to help me paying my mortgage in the UK by giving me a long term interest-free loan of £100,000. Can you please help me with the following questions: 1. Is it allowed by UK tax law for parents from abroad to give an interst-free loan to their children? 2.Is there a maximum amount that my parent can lend me like this? 3. Do I need to declare this money to HMRC? 4. Do I have to pay tax on an interest-free loan in the UK? Many thanks for your advice.
  • Tax on inheritance from parents domiciled in EU

    Dear HMRC, I am tax resident in the UK, while my parents are tax resident and domiciled in an EU country (where they have lived all their lives). They have no assets or bank accounts in the UK. If any inheritance were to be left to me by them at their death, will I need to pay inheritance tax in the UK? Many thanks for you help
  • Donation from EU to help pay mortgage in UK

    Dear HMRC, I am tax resident in the UK. My parents (tax resident in the EU) would like to make a monetary gift to me to help me paying my mortgage in the UK. Can you please help me with the following questions: 1. Is there a maximum amount for monetary gifts from the EU to the UK? 2. Do I need to declare this money to HMRC? 3. Do I have to pay tax on this donation in the UK (my parents are tax resident in a EU country and will pay tax on this donation there)? Many thanks for your advice.