UK taxation treatment from oversea Hong Kong payment

[chip*]

Hi,

I will be receiving an oversea payment from my parents soon, but I am perplexed with the tax treatment (if any) upon receipt into my UK bank accounts.

Some background information:
My mother (Hong Kong resident) has disposed of 2 properties and the net proceeds will shared equally between the son's.
My share of the net proceeds will initially be paid into my Hong Kong bank account (to open), but I will eventually need to transfer the sum over to my UK bank account to access the funds.
I reside in the UK / UK tax payer with my own Ltd company (Banking contractor).

My parents are very elderly and we don't expect them to be hanging around for long. If / when they pass away, are there any Hong Kong IHT tax implication on their estate?
Or
Does HMRC regard this payment as a gift from my mother, and therefore hit me an IHT claim as per the 7 years rule?

Thanks
Tom

[Eric Mc]

Basically, what you say at the end. It's a gift which could become an inheritance if your mother dies within 7 years of making the gift. Tell her to get a move on.

[Ean218]

Eric Mc said:

Basically, what you say at the end. It's a gift which could become an inheritance if your mother dies within 7 years of making the gift. Tell her to get a move on.

Except if his mother is an HK resident and taxpayer, and not UK domiciled, it has nothing to do with HMRC.