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Posted Fri, 04 Nov 2022 09:45:49 GMT by Keung C
Hi HMRC Staff, My parents who live in UK and if they give me cash gift which is over £3,000 tax annual exemption. Should I need to declare the cash gift to HMRC in my self assessment tax return? Thanks for advise.
Posted Mon, 07 Nov 2022 13:43:43 GMT by HMRC Admin 32

You would not need to declare this on your Self Assessment tax return.

You should keep a record of this as it may have implications for Inheritence Tax in the future. 

You can see more information here:

Work out Inheritance Tax due on gifts

Thank you.

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