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Topic: Moving money? US -> UK  (Read 1969 times)

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Moving money? US -> UK
« on: June 18, 2024, 09:06:45 PM »
Hi
Any advice on how best to move money from a parent for a house from US account to U.K. ?

What’s the cheapest way?

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Are there any tax implications if money is used to fund a deposit?

Much appreciated!
Thanks
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Re: Moving money? US -> UK
« Reply #1 on: June 18, 2024, 10:21:43 PM »
Wise.com is what we have used many times, and 18 months ago our daughter used it to move large sums from the US direct to the UK solicitors she used to buy her house in England.

No tax implications in moving money over including gifting it to someone else.
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Dual USC/UKC living in the UK since May 2016

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