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-   -   uk inheritance (https://www.englishforum.ch/finance-banking-taxation/222720-uk-inheritance.html)

yodelady 24.11.2014 18:06

uk inheritance
 
I wonder if anyone knows if I will have to pay tax in Switzerland on a uk inheritance please. There will be no tax due in the uk as it falls beneath the threshold level there.. Thanks in advance..

ch2013 24.11.2014 18:12

Re: uk inheritance
 
No inheritence tax but you will pay tax on your fortune.

Make sure you keep copies of the details of the inheritence so tax office knows where money came from.

yodelady 25.11.2014 08:45

Re: uk inheritance
 
Thankyou for your simple, straingtforward answer, very helpful...I`m already pensioned in UK and recieve a very small, reduced state pension. I don`t recieve any other payments or benefits. I own my own house here in Switzerland and my partner pays for the day to day living expenses and pays the bills.. Does my "fortune" as you put it, mean my house?

ch2013 25.11.2014 09:14

Re: uk inheritance
 
Yes and any savings, investments and the inheritence.

Guest 25.11.2014 09:14

Re: uk inheritance
 
Quote:

Originally Posted by yodelady (Post 2289171)
Does my "fortune" as you put it, mean my house?

Well it includes your house anyway. According to its assessed value. You should have that on the same notification as the assessed rental income (eigenmietwert) you are deemed to have received from it.

Urs Max 25.11.2014 12:32

Re: uk inheritance
 
Quote:

Originally Posted by yodelady (Post 2288917)
I wonder if anyone knows if I will have to pay tax in Switzerland on a uk inheritance please. There will be no tax due in the uk as it falls beneath the threshold level there.. Thanks in advance..

CH has a double taxation agreement with UK. Since you paid nothing in the UK it probably has no effect in your case.

National heritage taxation falls under the authority of the Kanton where you live, usually the tax rate depends on kinship degree - the closer related the lower the tax rate, in all Kantons children pay no taxes on heritage from their parents.

For Glarus the first 10'000 are not taxed (up to 50k depeending on kinship). If the taxable heritage is less than 200'000 CHF the tax rate is no more than 10% (e.g. 4% for siblings).

If you live in Kt. Glarus the best thing would be to contact Frau Müller mentioned on this page.

yodelady 25.11.2014 13:54

Re: uk inheritance
 
Thankyou for your responses, it was my parent who recently passed away..
They already know about my house here.
once again, thankyou...


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