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Posted Mon, 03 Jul 2023 10:24:35 GMT by
For context, I'm French and have been living in the UK for over 10 years. My dad (French, living in France) wants to donate EUR 70,000 to me as part of a "donation partage" and the same amount to my brother (my mum has been sadly gone for a few years now). A "donation partage" is at the same time a gift during lifetime and a succession by anticipation. What do I need to do with regards to the UK law and HMRC? Is this something I need to declare and is there any tax I need to pay on it? Thank you so much for your advice
Posted Fri, 07 Jul 2023 13:01:25 GMT by HMRC Admin 20
Hi Magali Leroux,

You do not need to do anything, cash gifts are not taxable.  
Any interest or dividends the gift may generate, may be taxable.

Thank you.

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