Lilly
Joined: 1/30/2022
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Tax on money received from a parent
I am a uk citizen and resident and I have a joint UK bank account with a parent who is not a uk citizen or resident. if that parent wants to transfer money to me from abroad via our joint account, do I need to pay inheritance or any other tax on it? it is a joint account. How much can a parent transfer their child per year without any tax implications? thanks