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TaxRobin
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15747
Experience:  International tax
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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.
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