HMRC Admin 32 Response

Hi,

HMRC would have no issue with that.

Thank you.

Hi,

A P85 should be used to inform HMRC that you are leaving the United Kingdom.

Get your Income Tax right if you're leaving the UK

There is a self assessment criteria tool, which will help you work out if a tax return is required. If a tax return is not required, you will need to contact HMRC to advise them of this. This will prevent future tax returns being issued.

Thank you.

Hi Aird,

Yes. You will then only need to declare any interest or dividends that the capital then generates.

Thank you.

Hi antonioscotti,

No. The gifted money is not taxable. However, if it generates interest or dividends.These would then potentially be subject to tax.

Further guidance can be found here.

Tax on savings interest

Tax on dividends

Thank you.