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Sam
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Category: Tax
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My wife has inherited approximately £200,000 from her Mothers

Resolved Question:

My wife has inherited approximately £200,000 from her Mother's estate in Guernsey. What are the tax implications for remitting the money to the UK. We are domiciled in the UK.
Thanks
Submitted: 3 years ago.
Category: Tax
Expert:  Sam replied 3 years ago.
Hi

Thanks or your question, I am Sam and I am one of the UK tax experts on Just Answer.

There are no tax implications at all on remitting this money into the UK, as any Inheritance tax issues would have been considered under your wife's late mothers' estate.

The only consideration your wife has, is, should any income arise from this lump, in the form of interest etc
So if deposited in a bank or building society - then tax will be due on any interest paid or if shares purchased, then tax would be due on any dividends payable.

Thanks

Sam


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