Tax in HK for gift/encashment of UK bonds?

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  1. #1

    Tax in HK for gift/encashment of UK bonds?

    Does anyone know if there is any effect on my tax status under Hong Kong law if I am gifted with a couple of UK investment bonds, originally taken out in the UK by my parents? And will it make a difference under Hong Kong law if I then cash the bonds, and gift some of this money to other family members back in the UK?

    Thanks!


  2. #2

    Join Date
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    I am not a tax specialist, but I can't see how any of this would be of interest to the HK tax regime. Tax is only levied on profits, salaries and property. Investment income and gifts are not taxable as far as I can see.

    http://www.ird.gov.hk/eng/pdf/tax_guide_e.pdf is the IRD's overview of the tax system.


  3. #3

    Join Date
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    You will not get any liability here and as long as it fits within the International Money Laundering Legislation limits, it would not have to be explained.

    HOWEVER - Good old IR in UK will take a view on it, especially if you "recycle" it back into the UK. It would look( even to Stevie Wonder ) that you where laundering. You need to take professional advice with your adviser or bank manager / tax accountant on the UK side as investment profit and capital gains are taxable.