Skip to main content

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

Posted Sun, 20 Nov 2022 13:56:03 GMT by Jabse
I’m a UK citizen and resident and My Dad is Gifting £18000 from Inidia, this will be direct bank transfer to my bank account. I’m working as a permanent employee for a private company in UK So I have 3 queryiea on this topic 1. Do I need to declare this to HMRC and if yes how do I do that? 2. Do I need to submit any documentation to prove that its a gift? 3. Will there be any tax on this gift? Thank you.
Posted Tue, 22 Nov 2022 14:28:38 GMT by HMRC Admin 17

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    and  :

Tax on dividends    . 

Thank you.

You must be signed in to post in this forum.