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Posted Mon, 05 Dec 2022 16:06:09 GMT by jtruiz
Hi. I am UK resident with dual citizenship (Swiss/British). My Swiss grandmother who is a Swiss national and resident (she has never been a UK resident) wants to give me £88,000 (CHF 100,000) to help with with my studies and for buying a house. Do I need to pay UK taxes on this gift or do I simply need to pay taxes on interests once the amount has been remitted in the UK? Thank you.
Posted Thu, 08 Dec 2022 09:35:25 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.

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