Gift tax for cash gift from overseas

Hi
 

Hanna,   Please note that cash gifts from overseas are not regarded by HMRC as taxable transactions. And if the amount of interest arising is within the limits detailed in the guidance below, no further action is required.  See Link: Tax on savings interest    .    Thank you.

Hello. I originally come from abroad but have uk citizenship. My grandparents want to give me £80000 for flat deposit. Do I need to pay any tax on it? Thanks

I plan to live and stay in the UK or Scotland as my passport allows me to do so. My parents are planning to leave their property behind to my sister and her husband when they pass away and my sister is willing to give a portion of the cash to me after selling the flat. She nor her husband is not coming to the UK to live. Do I have to pay tax for this cash gift? Is there a limit to this gift if they wire it to me in the UK or Scotland?

Good morning We want to gift our house in Germany who lives permanently in the UK. Is this gift taxable? Thank you for your advice

Another question would be, is there a ceiling on gifts for your children living in the UK? We are non UK citizens Thank you

Hello, I will be receiving approximately 270 000 pounds from my parents abroad in order to buy a house. Do I have to pay tax on it or declare it?

Hi galujulia, 
Please note that cash gifts from overseas are non-taxable and do not have to be declared.
You would however have to declare any interest arising when the money is deposited in your bank accout.
Thank you. 

Hi
 

evamarkova,   There is no income tax due on a gift of money but if this is placed in a bank account that generates income then this would be subject to income tax. Thank you.

Hi. I have a question? My girlfriend father are sending money from Bulgaria 50000 pounds gift to her bank account. My questions is? Does she have to pay taxex on this money or declare them?

Hi Ronnie7802, 
Please note that cash gifts from overseas are non taxable. However, any interest arising when the money is deposited in your girlfriend's bank account must be declared to HMRC.
Thank you. 

Hi, my family is considering sending >£50k as a cash gift to help with buying house in the UK from overseas. Do I have to declare this in a specific way in my self-assessment?

Hi Tophy,

If a non-resident parent gifts a property to a son or daughter who is resident in the UK there are no Income Tax or Capital Gains Tax implications for the recipient of the gift.

However in certain circumstances, there may be Inheritance Tax implications.                                                            

Work out Inheritance Tax due on gifts

Thank you.

Hi Tophy,

For full details of the possible Inheritance Tax implications for children who receive gifts from parents you can refer to the guidance given in our previous answer.                                                        
Thank you.

Hi
 

Tony Ekam,   Please note that cash gifts are non taxable. However, you would have to declare any interest arising when the money is deposited in your bank account.

Thank you.

Hello HMRC, My parents are residents from Brazil with no ties to the UK and they wish to send me some USD. I'm a UK tax resident. Will I need to declare and pay any taxes on it? What's the maximum amount of USD that they can send without any tax implication? Thank you.

Hi, I am a tax paying UK resident, non citizen. My parents planning to give me money gift worth £20,000 they live in Poland(Polish citizens). Money gift will be declared to Polish Tax office and exempt taxation. Do I have to declare this money and do I get taxed here in UK if I decide to transfer this amount to my UK bank account?

Hi Daphne Lange, 
Please note that cash gifts from parents overseas are non taxable.
You would however have to declare to HMRC any interest arising when the money is deposited in your bank account.
Thank you. 

Hi VOGE,

Cash gifts from family do not need to be declared for Income Tax purposes.

Thank you.

Hello, we are from Hong Kong. If I immigrate to the UK, can my relatives and friends in Hong Kong transfer their living expenses to the UK account every month? Do I need to pay tax? and need to submit supporting documents? Thanks

Hi Pawel Mukoid,

If you are receiving a cash gift from your parents HMRC do not deem this as a taxable income.  If you hold the money in a UK account you may pay tax only on the interest acrued. 

Thank you.