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I have some inheritance money that will soon be paid out in the US (I am a US citizen). I would like to transfer it to the UK, where I currently live, to help buy a property.
Will the money be taxed in the UK if I bring it here? If so, do you know by how much?
There's no taxation on gifts in the UK, except in some cases where the giver is subject to UK inheritance tax and dies within 7 years of making the gift. As your inheritance will be paid in the US under US law, it won't be subject to this tax. There's also no tax on transferring money into or out of the UK per se.
As a UK resident, you are probably liable for tax on any income (e.g. bank interest) you make from the money even while it is still in the US, if you bring that income the UK, or if it's over £2,000/year - see https://www.gov.uk/tax-foreign-income/non-domiciled-residents
Once it's in the UK it'll be just like any other money you have in the UK. Buying a house to live in will help you to avoid tax on the income from the money, as you don't have to pay tax on the rent you save by owning.
Make sure you keep hold of documentation that explains where the money came from, as you'll need to provide it to satisfy money laundering regulations when actually buying a house with it.
