Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 19 Nov 2022 19:25:33 GMT by kittyauau
There are some gifts given to me by some companies more than 10 years ago. They are gifts so I do not know their values. They are for my personal use (with my names there). Do I have to declare them and pay any tax if I bring them to England?
Posted Tue, 22 Nov 2022 12:19:12 GMT by HMRC Admin 32
Hi,

This may depend on the nature of the gifts. Cash gifts are not taxable. If the gift is an asset and you bring those assets to the UK, then dispose of the assets, this makes them subject to Capital Gains Tax.  

Capital Gains Tax: what you pay it on, rates and allowances

Thank you.

You must be signed in to post in this forum.