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18 months ago whilst living in Ireland my french Cousin loaned

Resolved Question:

18 months ago whilst living in Ireland my french Cousin loaned me 100,000 euro to buy a house. I am a British National now living in Shropshire, the money is in an Irish account, can I bring it into the country to buy a house here?
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.
Hi
Thanks for your question
Yes you can just make sure you bank knows to expect the money ad they have to carry out Money Laundering checks on any large amounts paid into an account.
But The UK tax office will only be interested on this lump sum IF you have earned any income on it (such as interest) as this should really have been declared to them (but only has any impact if you are a 40% or above taxpayer in the UK)
Let me know if I can be of any furtehr assistance, I am about to meet with clients but will respond to any further information you require when back at the computer, I hope this is acceptable
Thanks
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13810
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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