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Posted Sat, 12 Nov 2022 19:20:15 GMT by 023 mij
I am tax resident in the Netherlands, though with a UK bank account. I wish to gift £10,000 to a friend in the UK, from this account. What tax would be due on this, and from whom?
Posted Wed, 16 Nov 2022 15:36:13 GMT by HMRC Admin 32
Hi,

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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