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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13976
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I reside in the UK but born in South Africa. I am joint beneficiary

Customer Question

I reside in the UK but born in South Africa. I am joint beneficiary of my late father's estate in South Africa and was given am amount of money recently. I would like to bring these funds to the UK. Am I liable for tax on this amount in the UK
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question
No, you are not liable to tax on receipt of this money from the estate , as any Inheritance tax is considered and paid for from the estate (under the SA laws)
Your only consideration, is on any income this lump sum then earns, once its in the UK - either directly or due an investment you make(for example interest from a bank or building society or any dividends payable from shares)
Let me know if you have any further questions from the response I have provided
Thanks
Sam
Expert:  Sam replied 2 years ago.
Hi Mayet

I hope that you are clear on your UK tax position - let me know if I can be of any further assistance, but in the meantime it would be appreciated if you could rate me for the level of service I have provided, as this ensures that Just Answer credit me for my time.

Thanks

Sam