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  • RE: Money transfer

    I am an international student (Taiwanese) who has already lived in the UK for two years. I would like to buy a house in the UK for my university journey, my father’s ex-business partner is willing to lend me around £400K (interest-free) from Singapore. Before receiving £400K from Singapore, I would like to ask some questions and hope somebody can give me some suggestions: (1) As a non-UK citizen, could I use the borrowed money for the property purchase? (cash buyer) (2) If I can use the borrowed money for the property purchase, do I need to declare the large money transaction with HMRC? Like tax paying. Big thanks