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Declaring gifts to Inland Revenue?
Profile | Posted by | Options | Post Date |
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Florence61 | Report | 8 Mar 2015 09:34 |
Thanks for all you info, i will pass it on. |
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nameslessone | Report | 8 Mar 2015 09:12 |
Would Scottish inheritance laws be different? |
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InspectorGreenPen | Report | 8 Mar 2015 07:35 |
Andysmum, that is not quite the case. |
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PatinCyprus | Report | 7 Mar 2015 23:01 |
If a bank needs proof of it being an inheritance the name of the solicitor dealing with the will should be able to verify the fact the money is from an inheritance whether it's a named or anonymous source. :-) |
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Andysmum | Report | 7 Mar 2015 22:30 |
Money inherited is subject to tax as part of your normal income for the year in which it is received. |
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ZZzzz | Report | 7 Mar 2015 22:14 |
The bank I'm with asked me where the cash came from that I was paying in, it was only £500, which isn't a lot when you consider the amount tax evading goes on these days, but it was a lot of money for me. |
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DIZZI | Report | 7 Mar 2015 21:44 |
I G P |
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InspectorGreenPen | Report | 7 Mar 2015 21:23 |
When large sums of money are paid into a bank account, the bank an obligation under Anti Money Laundering Legislation to ensure that the funds are legitimate. This means knowing the identity of the customer and understanding the kinds of transactions in which the customer is likely to engage. |
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Florence61 | Report | 7 Mar 2015 21:00 |
Does anyone know if you were left something in a will and it was a large amount of money, does the bank have the right to find out where the money came from? What If the person or persons giving you the money are annonymous? What would happen then? |
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