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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 10398
Experience:  FCCA FCMA CGMA ACIS
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My mother might be receiving an inheritance from her aunt

Customer Question

Hello. My mother might be receiving an inheritance from her aunt close to 1 mil euros. My mother is originally from Greece (as am I) and the inheritance is based in Egypt. In case this goes forward, if my mother wants to send the money over to me in the UK (I have been residing in the UK for 9 years now) would I be taxed for the amount?
JA: Have you talked to a tax professional about this?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: No
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

The UK has no Gifts Tax regime and abandoned exchange control over 50 years ago so this money will come to you tax free.

Just make sure you warn your bank of incoming funds and their source to preclude any money laundering inquiries a large sum might otherwise attract.