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Posted Wed, 18 Sep 2024 08:26:04 GMT by kartikey kaushik
We bought a house here in UK and given the high mortgage my father in law offered to help us with some cash (GBP 100,000), If he transfer this amount to my account, would it be taxable in UK. I know there is a 20% tax on foreign remittance in India, but whould it be taxed in UK?
Posted Thu, 26 Sep 2024 11:56:00 GMT by HMRC Admin 32 Response
Hi,
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
Tax on dividends
Thank you.

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