Inheritance Money from Abroad

[Clarita12345]

Hi there
I have inherited some money from my dad who passed away and I would like to bring the money to this country to invest in property.
How can I bring the money to UK.
Thank you

Your bank can advise you on the process of the transfer. However, depending on how much it is and what are the inheritance tax laws in each country, you may have to pay tax on it twice.

Some countries have Double Taxation agreements, but not all of these cover inheritances. Talk to a tax advisor with experience in this area is the best thing to do.

The estate pays tax not the recipient. Your father died abroad (sorry for your loss) and that will cover the tax (if he had no links to the UK). The act of bringing the money into the country does not alter that.

As the inheritance is from overseas I assume it is not in UK pounds. You should talk to your bank and explain the situation. Due to Money laundering laws you will need to provide proof to the Bank that the funds are from an inheritance.
You should take advise from them wether to transfer the money in the foreign currency then change it in the UK.
This assumes the inheritance is in a currency and country that allows funds to be sent overseas.
If you had included more information it would have been easier to give you advise.

just get the executors to do an electronic transfer from his estate to your bank
simple, cheap and takes minutes

If it is a large amount you will lose thousands transferring it via your bank. Use a service like transferwise, it is much cheaper. There are quite a few similar services, we have used transferwise for large sums with no problems.

If it is a large amount you will lose thousands transferring it via your bank
How?
Bringing family money in from overseas we agreed spot rates and it was fine

You can do the comparison for your bank at the time you want to make the transaction if you don't think you'll save money. The fees are lower and the intermediaries pay mid market rates at the time of the transaction, which is usually much better than you'll get from a bank. They wouldn't exist if they weren't generally cheaper, as there'd be no point. I checked tw v our bank and we saved nearly £10k.