Gifts from abroad

gwenbgwenb MAAT, AAT Licensed Accountant Posts: 42
Hello,
I wonder if anyone here's got some experience dealing with tax on gifts received from abroad who could advise me on the following: a would-be customer (who is a UK resident) is going to receive money from the parents from a non-EU country. I tried reading some information provided on the gov.uk website but it's not very clear to me if there's any UK tax to be charged on it, if the gift needs to be declared to the UK tax authorities or how to go about it.
The UK bank does not seem to oppose to the transaction so I am not sure whether I am troubling myself for nothing.
All your comments will be greatly appreciated.
Sign In or Register to comment.