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Posted Sat, 29 Jul 2023 16:14:33 GMT by Luri 07
Hello, My husband is looking to transfer me money from his UK bank account into my UK account. I would want to put them in a saving account. Is there a limit of how much he can transfer me and are there any charges from HMRC? Kind regards.
Posted Tue, 08 Aug 2023 10:30:21 GMT by HMRC Admin 32 Response
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

There is no limit for how much he can transfer.

Thank you.

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