Cash Gift

I am over 18, what are the tax implications of a cash gift of £100K from a parent? Both of us are UK residents.

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.

Hello, I am a non-citizen UK resident who pays tax on income. I'll receive a cash gift of £30,000 from my parents from overseas and I understand I'll only be taxed if this gift generates interest, which it will not ( I have confirmed with my bank) - so I wanted to confirm if I have to declare this gift to HMRC or pay taxes on it? Thank you.

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. You can see further guidance here:

Tax on savings interest

Tax on dividends

Thank you. 

Hi I am a British citizen. My mom would like to send me a gift of £30k from India. Do I have to declare to HMRC and how much tax do I have to pay on that?

Hi Veegee73,

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 and Tax on dividends).

Thank you.