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Posted Tue, 27 Aug 2024 15:18:53 GMT by Kaithal
Good evening hmrc, Sorry to say that I have chosen right section to clear my doubt..please if I chose wrong section answer my question or guide me to clear my doubts.. Just I want to clear my doubt if someone (my relative) send large amount of foreign money in my uk bank account..how much you will take tax on that money and do you need proof of the source of the funds?..
Posted Wed, 04 Sep 2024 11:15:51 GMT by HMRC Admin 21 Response
Hi Kaithal,
There are no income tax implications on the receipt of a cash gift unless the cash gift generates interest or dividends. These would then potentially be subject to tax.
Further guidance can be found here: Tax on savings interest: How much tax you pay.  
Thank you.

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