Cash gift from parents outside UK

I'm currently living in London on a Biometric Residence Permit (BRP), and this is my second year as a resident. I’ll soon be applying for Indefinite Leave to Remain (ILR). My parents, who reside in India, wish to gift me funds for purchasing a property here. Is there a limit on the amount they can gift, and would it be taxable in the UK?

If a gift is sent from parents living in a uk offshore to children in the uk and the parents unfortunately die, is the gift subject to the uk 7 year rule even though the parents death would be not subject to uk inheritance tax?

Hi Shivangi Ladha,
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
There is no limit on the amount that can be gifted.
Thank you.  
 

Hi Hughri,
Please contact the Inheritance Tax team for advice.
Inheritance Tax: general enquiries
Thank you.

Hi, I am a UK tax resident with skilled working visa. My wife hold a dependent visa. If her brother in HK would like give her £300,000 via bank transfer, would it involve any tax?

Hi,
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

Hi, Hope you're well. My wife and I are living on a tier 2 visa in the UK. My wife family wants to send us some money (around 21000 pounds) to help us purchase a house in the UK as a gift. Do I need to declare it and would it be taxable for us? Also, do we need to document it as a gift anywhere? If yes, how should we do that? thanks.

Hi,
There are no tax implications on the receipt of a cash gift unless they generate 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

Hi, I'm a UK Resident holding an Indian Passport. Currently, my father resides in Saudi Arabia and plans to send me around £12000. Am I taxable for this incoming amount? Also, is it permissible for me to put some or all of that money into ISA?

Hi,
There are no tax implications on the receipt of a cash gift unless they generate 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