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Posted Sun, 29 Oct 2023 13:28:44 GMT by Dee
Hello, I am UK citizen. Will I pay any tax on a cash gift of £1000 from an uncle who lives overseas (he is not a UK national). Is there any upper limit for such cash gifts for tax implications? I understand that any income from deposits in a savings account would be taxed normally. Many thanks.
Posted Tue, 31 Oct 2023 15:33:46 GMT by HMRC Admin 17 Response

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 tax. 

Further guidance can be found here :

Tax on savings interest   and :

Tax on dividends  .  

Thank you.

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