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Posted Sun, 22 Sep 2024 20:10:07 GMT by Colley2000 Partridge
I am living in the UK and my partner lives separately in the UK, I would like to gift them money to purchase NS&I premium bonds for themselves, which may win them Tax free prizes. What are the tax implications of this???
Posted Fri, 27 Sep 2024 11:01:38 GMT by HMRC Admin 20 Response
Hi,
There are no Income Tax implications on the giving or 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
Tax on dividends 
You may also wish to consider any inheritance tax implications. 
The rules on giving gifts can be found here: How Inheritance Tax works: thresholds, rules and allowances  
Thank you.
Posted Fri, 27 Sep 2024 12:17:27 GMT by Colley2000 Partridge
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