Ostroff, Fair and Company
*Ostroff, Fair and Company>>>United Kingdom Taxes

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?

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. Source(s): http://www.irs.gov/newsroom/article/0,,i...
You will need to pay dearly.
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