What are the tax implications of bringing funds into the UK from abroad?

What are the tax implications of bringing funds...

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Hi,

I am a UK resident for the last 3 years working as a permanent employee at Medical research Council. My only source of income is my salary from the above job.

My parents are willing to transfer some money (around 50K) from a greek bank to my account here in the UK. These money have been properly taxed in Greece. Should I have any tax implications as the receiver of such an amount and if so how can I overcome them?

Your help is much appreciated.

Replies (3)

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By johngroganjga
20th Apr 2015 12:00

Gifts (or loans) from one's parents are not taxable.

So all you need to do is be prepared to prove that that is what the money is, rather than something else that might be taxable.

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By David Treitel
20th Apr 2015 20:43

What are the Greek tax implications for your parents and for you?

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Replying to Wanderer:
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By nsterg
21st Apr 2015 10:37

As soon as the money are taxed in Greece, there are no tax implications.

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