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Posted Tue, 04 Oct 2022 21:35:53 GMT by TCY
Hi, our family has came to UK in December last year with the BNO visa. My mother has put some money (around £90K) to our bank account in Hong Kong to support us to buy a house in UK recently. Could you please advise if we need to pay any tax for transferring the money to UK? Thanks.
Posted Fri, 07 Oct 2022 14:34:02 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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