Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Wed, 08 Feb 2023 12:00:16 GMT by Hang Le
Hi there, I'm a UK tax payer, living in the UK with a UK passport. My birth mother would like to gift me about £80,000 - £90,000 via bank transfer. She is a Vietnamese national living in Vietnam. She will use cash in VND to buy GBP from a bank in Vietnam. And this bank will transfer the whole amount from Vietnam into my UK account. Will I be liable to pay tax on this cash gift? Will I have to declare it to HMRC? Thanks for your help.
Posted Mon, 13 Feb 2023 15:51:42 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.
Posted Tue, 14 Feb 2023 13:05:40 GMT by Hang Le
Hi there, Thank you for your reply. Does this mean I don't have to declare this cash gift I've received from my mum. But if I put it in a UK savings account and it generates interest, I'll have to declare and pay tax on this interest? Thank you.
Posted Wed, 15 Feb 2023 12:56:43 GMT by HMRC Admin 17


Hi,

Yes that is correct .

Thank you.

You must be signed in to post in this forum.