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  • RE: Gift tax for cash gift from overseas

    Dear HMRC https://www.gov.uk/inheritance-tax/gifts I have read but cant understand what is the form of cash gift? Only pay in cash? Transfer money via account? I would like to clarify this point. Many Thanks
  • RE: Gift tax for cash gift from overseas

    What is the meaning of cash gift? My mother transfers money via bank system? from her account to my account? It is okay?
  • RE: Gift tax for cash gift from overseas

    I am a bno visa holder. I arrived uk in April 2022. Due to financial problem, my mother in HongKong wants to support me. She owned a property (owner is my mother, sole name) in China and has been sold out. China solicitor will transfer the net sale proceeds money to a joint named account with me in Hong Kong. Then, my mother wants to give the said money to me as a gift and transfer to uk. Any tax, I need to pay for? Any amount restriction ? Thank you.
  • RE: Money transfer

    Hi, our family will move to UK from Hong Kong. We have transferred part of money to uk account and leave some money in Hong Kong. Q1) We transfer money from Hong Kong later. Is it required to pay any tax? Q2) My husband transferred his money from his hong kong account to my uk account. Is it required to pay any tax? For Q1 and 2, any declaration is needed to be done before the said transfer. Thank you