UK Inheritance - proof needed?

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Hi, I am about to get inheritance from my Father, do the Germans require some proof of how much that was? Or can I transfer all my UK cash, and say it's all inheritance?

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I've never gone through it myself, so I don't know the documentation requirements, but "only" the first €400,000 are tax-free. Any amount above that is subject to German inheritance tax (Erbschaftssteuer).

 

An inheritance tax calculator is available here.

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I think you are supposed to report inheritance and gifts even if they are below the threshold.  But not sure if everyone does when amount is very small.  If it is over 20,000 it could be flagged, as this is the tax free threshold.

 

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I wrote a one liner to the tax office here, explaining the lump sum transfer.

IIRC, I also included a copy of the death certificate (in English / Mancunian)

 

inheritance   was under the tax threshold - they just wrote back with an "OK, no prob"

 

Of course this was in Amtsdeutsch - 3 pages of A4...

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Start with something simple to your Finanzamt, ie name of your father, date of death, description of relationship, amount involved.  If they want  more information they will ask.  But you are supposed to report within 3 months and I guess this would cover it.  

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I really wanted to know if anyone would want to see proof of inheritance, cos I wanted to move my savings at the same time, and avert any trouble.

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23 hours ago, Heidelbumm said:

would anyone want to see proof of inheritance

 

They might at some point.  Would you have difficulty producing proof?

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If you (still) have a UK account, get it paid into there for a start. Do you actually need to transfer it to Germany in one lump-sump anyway? No idea how the GBP is going to behave in the new year, but it may be advantageous to wait a while befor any conversion. At the moment the pound is weak. Don't get it transferred in GBP into a Euro account.

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On 30/12/2020, 10:46:49, Heidelbumm said:

I really wanted to know if anyone would want to see proof of inheritance, cos I wanted to move my savings at the same time, and avert any trouble.

It would be wise to be able to document where the money came from should questions arise in future. Keep (copies of) your father's last account statements as well as your own paper trail to show where your savings came from. I don't see how any official document could provide more proof than bank statements.

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2 minutes ago, optimista said:

It would be wise to be able to document where the money came from should questions arise in future. Keep (copies of) your father's last account statements as well as your own paper trail to show where your savings came from. I don't see how any official document could provide more proof than bank statements.

The bank statements will state an amount - but that is never the amount you end up with as there will be fees to pay the lawyer etc. Also the inheritance might be split.

If the amount is particularly high there might also be inheritance tax. 

So whilst the bank statements show the amount the father had before he passed, it won't be the amount inherited by the OP unhappily.

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No,obviously it will be less. They are not stupid. So where is the problem?

The banks are thieves, especially when it comes to cross-border transactions. Drip by drip and cash my methods.

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1 minute ago, optimista said:

No,obviously it will be less. The banks are thieves, especially when it comes to cross-border transactions. Drip by drip and cash my methods.

Same here and my view entirely on banks. This is why it should be paid into a UK account as then the OP can sort it out avoiding bank and tax issues entirely. 

We are starting to look at a similar situation which will arise in the UK in our family and avoid inheritance tax, especially as I am a non-resident.

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Holes in the ground, safes, cash, socks under the bed. That is what it is coming to.

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4 minutes ago, optimista said:

Holes in the ground, safes, cash, socks under the bed. That is what it is coming to.

This is why Switzerland has a 1'000 franc banknote. Currently worth €920 each. :) 

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2 hours ago, optimista said:

Holes in the ground, safes, cash, socks under the bed. That is what it is coming to.

Or moving to Cyprus where there is no inheritance tax.

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6 minutes ago, jeba said:

Or moving to Cyprus where there is no inheritance tax.

 

In the UK it is the estate of the deceased that is liable to inheritance tax, not the recipients.  So moving somewhere which has no inheritance tax does not allow you to avoid UK tax.  

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