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Posted Wed, 20 Sep 2023 11:51:50 GMT by dibble81
Hi there, I have a mortgage with my partner, which we intend to pay off at the beginning of next month. The payment to the mortgage provider will be a single lump-sum payment made from my partner's UK current account. We will each contribute 50% to the payment, but I will transfer my half of the money (around £70,000) to my partner's current account (from my UK current account) so that she can then make a subsequent single payment from her account to the mortgage provider for the total amount (around £140,000). Are there any tax implications (either for myself or my partner) to transferring this money to her account? The transfer is not intended as a gift, but as my contribution to the payment of a mortgage. Many thanks.
Posted Fri, 29 Sep 2023 15:05:30 GMT by HMRC Admin 25
Hi dibble81,
The proposed transfer of funds to your partner's bank account would have no income tax implications, but any interest or dividends generated could be taxable.  
Capital Gains Tax summary notes 
Thank you. 

Posted Sat, 30 Sep 2023 10:58:26 GMT by treborsenots
Hello If I want to transfer £50,000 from Greece to my UK bank account and the same to my children's bank account will there be any tax to pay ? 

Name removed admin 
Posted Thu, 05 Oct 2023 12:53:18 GMT by HMRC Admin 32

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

Tax on dividends

Thank you.

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