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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17626
Experience:  International tax
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I've been recently given inheritance money of about 260,000

Customer Question

I've been recently given inheritance money of about 260,000 GBP from Iran.
My question is what is the procedure of bringing this fund to the UK and how much tax would I have to pay for this inheritance money.
Submitted: 1 year ago.
Category: Tax
Expert:  TaxRobin replied 1 year ago.


If the deceased's permanent home (‘domicile’) was abroad, Inheritance Tax is only paid on their UK assets, eg property or bank accounts they had in the UK.

It’s not paid on ‘excluded assets’ like:

  • foreign currency accounts with a bank or the Post Office
  • overseas pensions
  • holdings in authorised unit trusts and open-ended investment companies

Beneficiaries (the people who inherit the estate) don’t normally pay.

Income Tax on profit you later earn from your inheritance is taxable to you.

Have your bank handle the transfer.