Gift money from India

Hi. I am an UK resident on a skilled worker visa. My father who lives in India has gifted approx 4000 GBP (converted amount from INR to GBP) to my brother who also lives in India. Now my brother wants to gift the same amount to my UK bank account towards my deposit for home. Will this have any tax implications or create any issue when getting a mortgage?

Hi,

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 Income Tax. You can see further guidance here:

Tax on savings interest

Tax on dividends

Thank you.