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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4184
Experience:  FCCA FCMA CGMA ACIS
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I am a college student in UK (dual UK, USA citizenship). My

Customer Question

I am a college student in UK (dual UK, USA citizenship). My mother is Indian, and she want to send me some money from India via bank transfer to help with my college fees and living cost. do I have to pay taxes on the money remitted to my account in the UK?
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. The UK has no Gifts Tax regime so you receive your Mother's gifts free of UK taxation. If the sums are likely to be substantial you should warn your bank of the incoming funds and their source to preempt any money laundering inquiries a large transfer might attract. I do hope that I have cleared the air for you in this matter.
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Customer: replied 1 year ago.
My mother is planning to send me 20,000.0 GPB -- would that be okay -- no taxes?
Expert:  bigduckontax replied 1 year ago.
It doesn't matter how much she sends you; there is no UK tax on gifts. Don't forget to warn off your bank. Thank your for your support.
Expert:  bigduckontax replied 1 year ago.
And your generous bonus.
Customer: replied 1 year ago.
Thank you so much.
Expert:  bigduckontax replied 1 year ago.
Delighted to have been of assistance.