Skip to main content

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

Posted Thu, 14 Sep 2023 11:38:52 GMT by Saishp
Hi, I am a UK national and I am looking to receive £150,000 from my parents, who are in India, as a cash gift. The money will be transferred from an Indian bank account to my UK bank account to buy a house in the UK. Do I pay tax on that amount?
Posted Thu, 21 Sep 2023 16:04:53 GMT by HMRC Admin 20
Hi Saishp,

Gifts of cash from relatives overseas have no income tax implications, but any interest or dividends generated when the funds are deposited in a UK bank account may be taxable.      
Tax on savings and investments: detailed information.

Thank you.

You must be signed in to post in this forum.