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bigduckontax
bigduckontax, Accountant
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Person living in the UK. I have a relative in Vietnam that

Resolved Question:

Hi,
I am Finnish person living in the UK.
I have a relative in Vietnam that will be sending me a sum of money (A gift).
The money will be transferred from Vietnam.
I have been living in the UK for more than 7 years, at the moment working part-time and receiving housing benefit.
My question is will I be able to use the gift however I want, will I have to pay tax on this sum of money? What do I have to do to keep myself legally safe from any trouble? Will the housing benefit interfere with the gift?
My dad also lives in the UK, he is also Finnish without receiving any benefits.
If he receives it, can he use it as he wants? Will he have to pay any tax on the sum of money?
Thanks!
Submitted: 24 days ago.
Category: Tax
Expert:  bigduckontax replied 24 days ago.

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

The UK has no gifts tax regime so these moneys will come to you tax free. Thank your lucky sr=tars that you don't live in France where gifts tax kicks in at 5K Euros! Just warn the bank of incoming funds and their source to preclude any money laundering inquiry a large transfer might otherwise attract.

As you are on benefits it might be adviseable for your father to receive this gift direct.

I do hope that you have found my reply of assistance.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 24 days ago.
Hi Keith,Thank you for such a quick reply!Your information was very helpful!
Expert:  bigduckontax replied 24 days ago.

Delighted to have been of assistance.

Thank you for your support.