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Receiving inheritance from abroad

Receiving an inheritance can be an emotional experience. Whether you’ve been left some money, property or other assets, we’re here to help protect your assets from currency risk as they cross borders.

Your dedicated currency specialist will track market movements and provide insights to help you transfer your funds smoothly and cost-effectively. Whether it’s a lump sum or ongoing payments, we’ll make the process simple so you have the headspace to focus on what matters.

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Home > Receiving inheritance from abroad

Useful tips when receiving inheritance from abroad

If you’re a UK resident inheriting assets from overseas, there are key factors to consider, from foreign inheritance laws to tax implications once the assets become yours.

  1. Understand inheritance laws: Tax laws vary by country and some don’t tax inheritance at all. A local legal expert can clarify what applies to you.
  2. Check the domicile status of your loved one: Someone’s ‘domicile’ status means where their permanent home is considered for legal or tax purposes. Your loved one’s domicile status will determine which country can apply inheritance tax to their assets.
  3. Know who pays the tax: Some countries deduct inheritance tax from the estate before it reaches you, while others tax beneficiaries directly.
  4. Plan for exchange rate changes: Exchange rate shifts can influence the final amount you receive for the assets you’ve inherited.
  5. Factor in future taxes: Once inherited, assets generating income (e.g., rental income or dividends) may be taxable in the UK.

 

 

 

Country specific resources for receiving inheritance from abroad

Our inheritance tax series explains what UK residents need to know when inheriting assets from abroad, covering everything from foreign inheritance laws to managing your assets after they’ve been inherited.

Receiving inheritance from Spain

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Receiving inheritance from Portugal

Villa in Portugal
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Receiving inheritance from France

Village in France
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Receiving inheritance from the US

Federal Reserve, United States of America
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Receiving inheritance from Canada

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Receiving inheritance from Australia

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How Lumon can help with your international inheritance transfer

Register for an account

Sign up online or over the phone in minutes to start the process.

Send us the funds

Transfer your inheritance via bank transfer.

Secure your rate

Lock in a competitive exchange rate to maximise the value of your inheritance.

We handle the transfer

Your funds will be exchanged and sent securely to your chosen account.

Frequently asked questions about receiving inheritance from abroad

How long does it take to receive inheritance from abroad?

The timeframe varies depending on the country’s legal process, the complexity of the estate, and whether probate is required. International transfers may also take additional time due to banking procedures and currency exchange.

How much can you inherit without paying tax in the UK?

Inheritance Tax (IHT) in the UK applies to the estate of the deceased, not the person inheriting. The standard tax-free threshold (nil-rate band) is £325,000. If the estate’s value exceeds this, 40% tax may be due on the amount above the threshold.

However, tax rules can be complex and may change over time. It’s always best to consult a tax professional or legal expert to ensure you understand your obligations and any potential reliefs available.

How to avoid foreign property inheritance tax?

Avoiding foreign property inheritance tax depends on the tax laws of the country where the property is located. Some strategies, such as careful estate planning or making use of tax exemptions, may help reduce liability.

Since tax rules are complex and vary by jurisdiction, consulting a legal or financial professional is the best way to understand your options.

What happens if you inherit money from another country in the UK?

If you inherit money from abroad as a UK resident, you generally won’t pay direct tax on the inheritance itself. However, any income or gains generated from it – such as interest, rental income, or investment returns – may be subject to UK tax.

Since tax rules vary by country, it’s worth seeking professional advice to understand any obligations in the country where the inheritance originates.

Here to help you receive your inheritance quickly and hassle-free

We’re here to make receiving your inheritance as straightforward as possible so you can focus on what matters most.

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We’ve got you covered

Our team of currency specialists have the local market knowledge to help you navigate the process of buying a property abroad. With our international real estate expertise, we’re here to help make the process hassle-free.

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Maximising the value of your inheritance is important to us. Our bank beating exchange rates can help you retain more of what you’ve received, offering a cost-effective alternative to banks.

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Ensuring your inheritance reaches you safely and swiftly is our main priority. With Lumon, you benefit from secure transfers, market insights, and competitive exchange rates.

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Whether you’re buying a property abroad, sending a one off payment or require regular payments, we’re here to help.

We’re here to help

At Lumon, we know that exchange rates can be unpredictable, which is why careful planning is essential when receiving an inheritance from abroad. That’s why we assign you a dedicated account manager to help you manage currency risk at every stage – from transferring your funds to helping you get the most from your inherited assets.

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Our bank-beating exchange rates

Get more euros for your money when you transfer £50,000 with us.

€59,063
Lloyds
– €28
Halifax
– €28
Bank of Scotland
– €28
Nationwide
– €373
Co-operative Bank
– €1,278

This chart is intended to represent the range of euro outcomes a consumer may achieve on a £50,000 transfer of pounds to euros, inclusive of fees and charges. Comparison data for the high-street banks is from FXC Intelligence (FXC Intelligence | Payments Market Data for Global Payments).

Comparison data for the high-street banks utilises pricing data provided under licence from FXC Intelligence (FXC Intelligence | Payments Market Data for Global Payments), a specialist benchmarking tool, for transactions in April 2025. The Lumon rate is calculated by taking the GBPEUR spot rate from 1 April 2025 from the Bank of England (bankofengland.co.uk) and then applying the median FX cost percentage across 64 spot GBP to EUR transactions with a value in the range of £25,000-£50,000 performed by Lumon Pay Limited and associated Group Companies (Lumon Risk Management Limited, Lumon FX Europe Limited) for personal customers during April 2025.