Query regarding gifting money to my son in UK

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Business
27 Points Posted on 20 December 2019

Hi All, I have few queries regarding taxation in UK if we send money to my Son

Background: Recently We sold a property and paid a tax in India. Now we want to send this money to my son in UK.

Query is, will he be taxed again in UK if he receives from India. Please suggest on how we can send and tax free limit. 

Thanks in advance. 

Regards

S Siddhartha 

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On 20 December 2019 at 11:28 Report
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Propritor
43 Points Posted on 20 December 2019
Logically I am saying that it may not get taxed in UK once you have paid tax on income in India. I am not aware about tax laws in UK.
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On 20 December 2019 at 12:06
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10683 Points Posted on 20 December 2019
Check RBI regulations for outward remittance.

In so far as taxation is concerned, there may not be any issue of taxes in UK .

Your son can check UK tax angle from his UK consultant. That will be better.
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On 20 December 2019 at 12:24
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Business
27 Points Posted on 21 December 2019

Thanks a lot for your clarification Sir. 

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On 21 December 2019 at 10:14
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Business
27 Points Posted on 21 December 2019

Thanks a lot for your clarification Sir. 

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On 21 December 2019 at 10:14

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