Gifting to a Grandchild

I hold both UK and NZ nationality. I live in New Zealand, pay NZ tax and am not liable to pay UK tax under the double taxation rules between UK and NZ. I wish to gift £10000 to my 21 year old grand-daughter who lives in the UK. Will she have to declare this gift as taxable income?

Hi Gordon Stewart,

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.