How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask TaxRobin Your Own Question
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15747
Experience:  International tax
Type Your Tax Question Here...
TaxRobin is online now

Do i have to pay tax on off shore shares i have been gifte

Customer Question

do i have to pay tax on off shore shares i have been gifted
Submitted: 1 year ago.
Category: Tax
Expert:  TaxRobin replied 1 year ago.
HelloThere is no general requirement to tell HMRC about a gift you receive. But if you are in self assessment (especially if you are self-employed), it is sensible to keep evidence that it is a gift (for instance, an exchange of letters). If you’re UK resident, you’ll normally pay tax on your foreign income.You don’t need to fill in a tax return if your only foreign income is dividends under £300 in total and you don’t have anything else to report.Receiving the shares is not taxable if they were a gift to you.When you actively click on a rating and click submit, that lets Just Answer know you were assisted and credits me for the time.
Expert:  TaxRobin replied 1 year ago.
You can post below