US/UK Dual Citizenship - Tax Implications
Feb 19th 2015, 5:18 pm
#1
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Joined: Feb 2015
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US/UK Dual Citizenship - Tax Implications
I'm a UK citizen by birth, now living in the US. A few years ago, I took out US citizenship so am now a dual national.
I have just received some money via an inheritance in the UK.
Can anyone advise the tax implications of this?
Thanks.
I have just received some money via an inheritance in the UK.
Can anyone advise the tax implications of this?
Thanks.
Feb 19th 2015, 5:44 pm
#2
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,439
Re: US/UK Dual Citizenship - Tax Implications
None in the UK - estate disbursements are after any inheritance tax has been paid, and inheritances are not "income" for the purposes of income tax.
None in the US at the Federal level - inheritances are not taxed, nor are they "income" for the purposes of income tax.
A few states in the US have an inheritance tax, so that depends on where you live.
None in the US at the Federal level - inheritances are not taxed, nor are they "income" for the purposes of income tax.
A few states in the US have an inheritance tax, so that depends on where you live.
Last edited by Pulaski; Feb 19th 2015 at 6:22 pm.
