Skip to main content

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

Posted Thu, 06 Jul 2023 09:04:42 GMT by
My brother who living in overseas willing to give me around £1000 every month to help my living costs. My brother will first deposit the money into the overseas account under my name, and then I will transfer the money to my UK account. 1. Do I need to pay tax for it? 2. Any kinds of documents we need to prepare or keep for the bank or HMRC to check in this purpose? 3. . Will there be any problems with this operation method that I need to pay attention to?
Posted Wed, 12 Jul 2023 13:49:20 GMT by HMRC Admin 20
Hi LL,

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 and Tax on dividends).  
You do not need to provide documents for HMRC.  
We cannot confirm whether you will have any problems.

Thank you.

You must be signed in to post in this forum.