Cash gift from abroad

Thank you, so what else treated as the costs to be deducted for calculate gain or loss? Costs on improving the conditions of property in order to make it sellable? estate agents fees, solicitor fees, government fees paid abroad…etc?

Hi CheMey,
Please refer to the individual pages within:
CG15150P - Capital Gains manual: introduction and computation: computation: expenditure: contents
Thank you. 
 

Hello, If i wanted to give a relative some money from my personal account in India, would this be subject to any taxes. I am a UK resident and so is my relative. Is their a limit or a cap on what you can or cannot do? Would their be any restrictions on them e.g. would they need to pay tax on any interest from it. Many thanks.

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.

Hi, My parents who live in India are selling some land to a buyer who lives in the Middle East. They wish to gift the proceeds of the sale to me. Rather than get paid into their Indian bank account and then transfer the money to me in the UK, could the buyer transfer the required sum directly from his bank in the Middle East to my account in the UK, thereby reducing an unnecessary transfer in between? Would this still be considered as a gift from my parents? My parents are prepared to provide a letter to confirm these arrangements. Kind Regards

Hi Amar Gupta,
Yes, as long as your parents send confirmation.
Thank you. 

My nephew, who is permanently resident and domiciled in Bermuda wishes to send a gift to myself. I am a UK resident and permanently domiciled here Will there be any tax to pay on the money he gives me? Many thanks Stephen Bate

My father who resides in Germany and is German want to gift me £38,000 for a deposit on a house are there any tax rules I need to consider.

Hello! May I ask if my uncle or aunt who lives outside the UK, would like to send me gift for about £50000 via bank transfer, for a deposit on a house. Does those cash gift subject to tax? Are there any tax law or rule I need to consider? I am an UK tax resident, does it affect the result?

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 : www.gov.uk/apply-tax-free-interest-on-savings    and : www.gov.uk/tax-on-dividends .   Thank you .