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bigduckontax
bigduckontax, Accountant
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I received an inheritance from my grandparents in september

Resolved Question:

Hi Good Afternoon
I received an inheritance from my grandparents in september 2015, it was the proceeds from an apartment they sold abroad, the money is in the local currency in an account which was transferred to one in my name, I would like to transfer these funds to my UK account but I am unsure of my tax liability (inheritance tax, capital gains etc) or if there should be any relevant paper I would require.
Kind Regards
Submitted: 10 months ago.
Category: Tax
Expert:  bigduckontax replied 10 months ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

Such inheritances come to you tax free assuming that any local taxes have been settled. You should warn your bank of incoming funds and their source to preclude any money laundering inquiries a large transfer might attract. This answer assumes that your grandparents had no UK Inheritance Tax (IHT) liabilities.

I do hope that I have set your mind at rest on this matter.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 10 months ago.
Thank you very much for advise Keith!Kind Regards
Expert:  bigduckontax replied 10 months ago.

Delighted to have been of assistance.

Thank you for your support.