Hi,
I'm buying a house this year / parents want to avoid a ridiculous inhertiance tax on my side down the line so want to send me some money from the UK to help out.
My understanding is that the only tax I would have to declare would be gift tax based on however much money they sent above the exemption amounts.
Would I have to pay any tax on the money at the time it enters the country, like a remittance tax or would it just be the gift tax?
Thanks
by Shniper