How much I need to pay.?

1 ⤊

How much I need to pay.?

If I'm in England and one of my relative send me a gift via fedex- used bass giutar with value around $1000. What I'll need to pay in taxes when I receive the gift. How many proccents?

2006-08-18 00:10:39 · 1 answers · asked by ASK 2 in Business & Finance ➔ Taxes ➔ United Kingdom

Oh the relative is living in USA

2006-08-18 00:13:00 · update #1

1 answers

You might want to see a tax advisor but seems to me that if it is a gift worth less than $11000, then no tax is owed.
See the IRS link below for more detail.

2006-08-18 03:16:21 · answer #1 · answered by kcincon 3 · 1⤊ 0⤋