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  • money Gift from overseas parents source from capital gain

    Hi HMRC admin, I am currently domiciled and having resident status in the UK. My parents were stuck in the UK during COVID which accidentally gains them resident status but they do not consider UK as their permanently home. Recently they have sold their land to the government in Hong Kong which pass through all of the legislation and taxation with the buyer (the gov itself). They are planning to gift part of the capital gain to me. Will there be any taxation regarding on this inheritage or gift based on my situation and will there be any taxation if I remit the money from foreign bank account to the UK? Do I have to report and self access with the HMRC? Many thanks, Wayne