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I am from Japan. I have moved to UK recently on a spouse visa.

I still have my Japanese bank account which I have been using even before I came to UK.
I have saving in that account and also my parents transfer me some money per month in my bank account in Japan. I have an International Debit Card on this account.

I am withdrawing this Money in UK via ATM / Debit Card.

In this case, do I have to pay taxes in UK or declare this as income in some form.

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The UK doesn't tax gifts or wealth, so you don't have to pay any tax on your existing savings or the money your parents transfer you. If your parents lived in the UK then you might be potentially liable to inheritance tax on the money if they died less than seven years after giving it to you, but if they live in Japan this won't be relevant.

In theory you might have to pay tax on any interest received in the bank account while you live in the UK. However this is likely to be very small, and if you don't have any other income then it's highly unlikely this would apply, as you can get up to £16,000 of interest without paying tax: https://www.gov.uk/apply-tax-free-interest-on-savings/how-much-tax-you-pay

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  • hi, if my parents give me £35,000 as gift and transfer the money to my british bank, do i have to declair this ? because i found parents can give up to £3000 a year as gift. but it is way more than £3000, so what would happen? in uk, do giver have to pay tax for it or reciever?? but my parenrs in. japan
    – ruu
    Feb 17, 2017 at 16:22
  • @ruu In the UK noone pays taxes on gifts, unless the giver is both in the UK and dies within 7 years.
    – GS - Apologise to Monica ♦
    Feb 17, 2017 at 20:21

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