3

Actually this is for my sister, she lives in London and I want to send her money from USA to her bank account. Will that transfer affect the taxes she must pay?

4
  • What are both your nationalities?
    – user71981
    Nov 7, 2018 at 15:38
  • @JanDoggen italian, but my sister is living in London and paying taxes there.
    – Enrique
    Nov 10, 2018 at 16:11
  • On top of that, have you ever domiciled (read: lived a long time) in UK before?
    – B.Liu
    Nov 10, 2018 at 18:15
  • @B.Liu not me, but my sister was living there for the last 6 years
    – Enrique
    Nov 13, 2018 at 12:55

1 Answer 1

1

As long as you give the gift (of cash) more than seven years before you die or the amount is less than the annual allowance of £3,000, this will be tax-free for her.

If you die earlier than that, the gift will be subject to Inheritance Tax.

1

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .