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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
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Experience:  International tax
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There, My uncle has kindly agreed to gift me £300,000 of

Resolved Question:

Hi there,
My uncle has kindly agreed to gift me £300,000 of his savings from China. He lives in China and is a citizen there. I am a British citizen. Are there any tax implication on my or his part if I were to receive this money.
Thanks.
Submitted: 1 year ago.
Category: Tax
Expert:  TaxRobin replied 1 year ago.
Hello,If your uncle is not a UK resident or citizen then he would have no UK tax reporting or consequence form this this gift to you.You would not have to pay any tax on the gift as it would fall outside the inheritance tax for UK. His estate would not be subject to UK tax rules.
Expert:  TaxRobin replied 1 year ago.
Hi Jia
Please advise if you need more information or rating in a positive way is acceptable.
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Expert:  TaxRobin replied 1 year ago.
Wanted to touch base with you and make sure all worked out.
Your positive rating is thanks enough

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