UK tax implications on International bank transfers??
Oct 31st 2011, 2:12 pm
#1
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UK tax implications on International bank transfers??
I am about to transfer a decent sum of money to my UK HSBC account from the account of a recently past relative. Does anybody know of the tax implications/rates that will be occured??
Nov 1st 2011, 1:52 am
#2
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Posts: 79
Re: UK tax implications on International bank transfers??
Are you resident in UK or Malaysia?
Nov 1st 2011, 1:59 pm
#3
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Re: UK tax implications on International bank transfers??
Moving from UK to Vietnam next year. At the moment I live in UK but my late relative was living in Malaysia.
Nov 1st 2011, 2:10 pm
#4
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Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: UK tax implications on International bank transfers??
I'm not a lawyer but might be worth speaking to one in Malaysia. Why shift money to UK if you are staying in southeast Asia ? Presume you know that there is no inheritance tax in Malaysia (nor Singapore nor Thailand) Just might be an angle to check out?
Nov 1st 2011, 3:15 pm
#5
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Re: UK tax implications on International bank transfers??
Thanks bakedbean. I didn't know that there was no inheritance tax in Malaysia, Singapore or Thailand. Will possibly look to tranferring to Thailand then. Thanks again!!
