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Posted Sat, 16 Nov 2024 23:49:01 GMT by Michael Levesque
So my father in law would like to gift my fiancé £45000 as a cash gift. Would he have to pay taxes on the £45000?
Posted Mon, 18 Nov 2024 14:03:00 GMT by HMRC Admin 34 Response
Hi,
There are no tax implications for transferring savings to a UK bank account unless they generate 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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