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Posted Wed, 08 May 2024 15:42:56 GMT by m ali
Hello My friend wants to gift me £30,000 to use as deposit to buy a house. Do either of us have to pay tax on this? Thanks
Posted Wed, 15 May 2024 10:44:18 GMT by HMRC Admin 19
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. 

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