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Posted Tue, 23 Jan 2024 05:17:06 GMT by
I’m a tax paying UK citizen, about to buy a property. My parents in Canada would like to gift us money towards the deposit, will this be taxed in the UK? I understand if any interest is gained we would pay tax on that, but would we need to pay any other tax? The money would be transferred to my account and go directly to the Solicitor towards the house deposit.
Posted Tue, 23 Jan 2024 23:39:20 GMT by
Hi there, I moved to the UK 2.5 years ago and file my annual self-assessment on a remittance basis. My wife and I are looking to buy a house and her parents who live in the US want to gift us £100,000 towards the house's deposit. Would such a transfer incur a tax if it was made to my account? Thank you
Posted Wed, 24 Jan 2024 23:43:53 GMT by
Hi, If i receive gift money from the cousin of my mother from France. I'm not UK citizen but I'm resident for 8 years. I understand there is no tax on gift money, but what happen if she pas away under 7 years? Does Inheritance tax applies only on close family? thank you
Posted Thu, 25 Jan 2024 13:01:42 GMT by HMRC Admin 19
Hi Peet,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.
Posted Thu, 25 Jan 2024 16:04:18 GMT by HMRC Admin 25
Hi Ilana Maguire,
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. 

 
Posted Fri, 26 Jan 2024 15:39:37 GMT by HMRC Admin 20
Hi Jacob,
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.
Posted Mon, 12 Feb 2024 11:18:58 GMT by
Hello. I am living in the UK on a BRP. I am a UK tax resident in my personal capacity. If I receive a cash donation of £50k, what are the personal tax implications? What do I need to do regarding my tax return? And what does the do we need to do?
Posted Mon, 12 Feb 2024 14:23:09 GMT by
My friend who is a French resident wishes to give me a cash gift of £20000. I am a UK citizen. Do I need to pay any tax in UK or France?
Posted Mon, 12 Feb 2024 17:20:12 GMT by
Hi, If a UK citizen sends another UK citizen (a family member) a gift of money from an abroad acount to a UK bank account, is this liable to tax and does it matter which country the account/money is in? And can the money be directly transferred or does it need to be first put into the giftee's (person receiving the money) account abroad? Thanks!
Posted Thu, 15 Feb 2024 13:19:36 GMT by HMRC Admin 5
Hi Jessica Van Der Merwe

You would need to confirm if this is in fact a donation to your business or a personal cash gift.  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).  
If a donation to your business this would be seen as income.

Thank you
Posted Thu, 15 Feb 2024 15:16:47 GMT by HMRC Admin 5
Hi Blue99 Wilson

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
Posted Thu, 15 Feb 2024 16:11:31 GMT by HMRC Admin 5
Hi DoctorWhat

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
Posted Sun, 18 Feb 2024 13:31:09 GMT by
Hi, My wife is undergoing a medical procedure. My parents (both EU citizens living in the EU) would like to support her financially with a 4-figure amount. My wife is a British citizen, living in the UK, and self-employed. Does she have to declare the amount in her tax return? And does she have to pay any taxes on this gift? And if so, is there any allowance up to which she is exempt from being taxed for the cash gift. Thank you
Posted Wed, 21 Feb 2024 08:07:15 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. You can see further guidance here:

Tax on savings interest

Tax on dividends

Thank you.
Posted Sun, 07 Apr 2024 19:35:17 GMT by sweep7891
Hello My parents living in India wish to give me approx £50000 (in Indian rupees) as a gift. The amount will be deposited in a bank account in my name in India. Besides paying tax on any interest it gathers, do I need to pay tax on the gift amount? Thank you
Posted Wed, 17 Apr 2024 11:08:13 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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