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Posted Mon, 13 May 2024 11:37:09 GMT by HMRC Admin 32
Hi N/A,

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.
Posted Mon, 13 May 2024 12:16:44 GMT by HMRC Admin 19
Hi PatNick,

There are no Income Tax implications of a cash gift of this nature. Any interest the gift generates, is taxable and should be declared.

You may wish to contact our Inheritance Tax team regarding any Inheritance Tax implications.

Inheritance Tax: general enquiries

Thank you.
Posted Tue, 14 May 2024 12:43:52 GMT by HMRC Admin 19
Hi MatFrench128,

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.
Posted Wed, 15 May 2024 07:58:43 GMT by HMRC Admin 25
Hi Firuza Normatova,
Yes, you are correct for your questions asked. 
Thank you. 

 
Posted Mon, 03 Jun 2024 20:16:39 GMT by dsingh70@comcast.net Singh
If I receive a gift of £70,000 from a relative who lives in USA and is not a UK resident or citizen, will I have to pay tax on that gift?
Posted Wed, 05 Jun 2024 15:37:17 GMT by HMRC Admin 20
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 and Tax on dividends). 
Thank you.

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