swiss bank account

[grayb1]

Hi my parents have just inherited about �180000 that is in a swiss bank account, as they live in the uk will they havt to pay tax on ot if they transfer the cash to their own bank account.

[Didwot]

You do not pay tax on money that you inherit. The estate may have to pay tax of some sort based on the deceased's place of residence for tax purposes. If the deceased was resident in the UK this could involve Inheritance Tax. The authorities might also be concerned to make sure the deceased had paid any tax due on the money whilst the deceased was alive (eg income tax). Finally the authorities may be concerned to find out if it is dirty money.

[erimus1]

Don't worry too much about it - Tell your parents to go over there and open a bank account in their own name - transfer the money over to their account.
I have money in an account there - when I wanted to get some out, I used to fly over by Easyjet and get the money out of the BCV branch at the airport - I eventually got a master card that I could use in the UK (you have to provide and addres that you are living in in Switzerland for that)
Good luck