Srishti
-
Taxed Salary Amount from India to UK - Tax Implications
Hi, wondering if I transfer my Indian salary money (from previous work experiences) which is already taxed in India to my UK bank account -
1. Would this amount be taxable in the UK?
2. If no, please elaborate on the evidence / proof needed to justify that the money is taxed in India?
3. Is there a threshold / restriction on the amount of money to be transferred?
4. Will this money need to be declared through self-assessment form of the year? or when this money needs to be declared? -
RE: Cash gift from India to UK
Hi, my parents would like to transfer c.£200,000 as a gift to my UK bank account from their India bank account (to help me for mortgage deposit). I understand this amount is non-taxable (per HMRC responses above), please confirm if otherwise. I also understand they will need to provide evidence / letter certificate stating that this is the gift from them, and witnessed by an independent 3rd Party. However, could you please confirm when do I declare this money to HMRC with evidence i.e., after receiving the money, through self-assessment form for the year?