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Posted Sun, 04 Sep 2022 20:23:03 GMT by jack bonnet
Good evening, It has been 18 months since I moved to England, and now I am an English tax resident. To buy a house in England, I need to transfer £150k from my French bank account to my English bank account. Could you please let me know if this amount is taxable and if I should notify HMRC? Many thanks.
Posted Thu, 08 Sep 2022 10:49:10 GMT by HMRC Admin 28

There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax.  

Further guidance can be found here:

Tax on savings interest

Tax on dividends

Thank you.


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