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Posted Mon, 30 Sep 2024 12:45:47 GMT by Max Bannatyne
I live in the Uk and my step mum wants to transfer me 30k as a gift from Czech Republic due to she sold my Dads car who passed away. I want to know if I will be taxed on this money? My step mum lives in Czech Republic and has payed tax on the sale of the vehicle.
Posted Mon, 07 Oct 2024 12:00:22 GMT by HMRC Admin 33
Hi,
We can confirm that 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: How much tax you pay
Tax on dividends: How dividends are taxed
Thank you.

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