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Tax on gift from family's overseas company

Posted Thu, 15 Jun 2023 16:44:09 GMT by
I just moved to UK in April 2023 and hence I believe I'm classified as non-resident at the moment, due to not having lived in the country for 180 days. I'm married to a UK national and am currently not working at the moment. If I receive a large sum of money as a gift from my parents company abroad, do I have to pay tax on this?
HMRC Admin 5
Posted Wed, 21 Jun 2023 08:05:59 GMT by HMRC Admin 5
Hi,

Please note that there are no income tax implications re: gifts of money from overseas.
However any interest generated when the money is deposited in a UK bank account may be taxable. Please see Tax on savings interest

Thank you

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