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Posted Sat, 08 Jul 2023 12:47:18 GMT by
Hello. I have been in UK since May 2010. Last year my mother transfered money on my account in Czech republic which where transfered on terminated account. Everything made in the same bank as we both have accounnts in the same bank. I am non docile UK resident. Giftet money should not be considered as an income from abroad, only the interest. My first question is, if had to declare, that my mother gave me money? Second question, do HMRC inform me, if I need pay tax or send tax return form? Is is stated that if if I am non-domiciled I will not pay tax or make form if income is less than £2000 and do not bring them into the UK. If income is £2000 or more or any money that you bring to the UK , you must reported in a self Assesment tax return.. Does it mean I needn't do anything if my money stay in my country? My income from interest will depend on exchange rate. Thanks for respond.
Posted Fri, 14 Jul 2023 10:34:07 GMT by HMRC Admin 20
Hi AlexNihon27,

There is nothing for you to declare.  
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 and Tax on dividends).  
You would need to report the interest in a self assessment tax return.

Thank you.

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