Gift tax for cash gift from overseas

Hi Astrid A,

There are no Income Tax implications on the receipt of a cash gift unless the income 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.

Dear HMRC, In October 2022, my brother gifted me c.GBP320,000 to help me with my first house purchase. He is a Turkish citizen and lived and worked many years in Turkey, and currently a legal resident and worker in Romania. So the total GBP320,000 came in part from his savings account in Turkey and in part from his bank account in Romania. While bank-transferring the money to me in the UK, he provided source of wealth confirmation to the banks in form of his payslips and employer confirmation letters confirming source of funds, as well as the bank accounts statements where the money accumulated over the years. I'm a UK tax resident. I live and work in the UK and pay taxes to the UK. Do I need to declare and/or pay taxes on the gift my brother send me to help me buy my first house?

Hi I am a UK resident on visa working full time. My father who is back in India would like to support me with some money every month due to the rising cost here. He is planning to send to 1500 pounds every month to my uk bank account (it is not a savings account, it does not generate any interest). Do I need to tax this money that I receive. Regards 

Dear HMRC, I'm a tax paying UK resident. My parents are planning to give me cash gifts by depositing cash to my bank account in Hong Kong and then I'll transfer money from my bank account in HK to my bank account in UK. I'd like to ask 1) Is it regarded as cash gift? 2) Do I need to provide document to prove the source of money? 3) I understand that I have to pay tax for bank interest but just to confirm whether I have to pay tax in addition to bank interest. Thank you very much!

Hi

R,
 

There are no income tax implications on the receipt of a cash gift unless the income 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.

I am a tax paying UK resident % citizen. I am about to receive cash gift worth approx. £50k from an aunt who lives in Hong Kong. Do I have to declare and tax this? If yes, how?

Hi Demir,

There are no Income Tax implications on the receipt of a cash gift unless the income 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.

 

Hi navamileena,

There are no Income Tax implications on the receipt of a cash gift unless the income 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.

 

Hi Enoch Ho,

There are no Income Tax implications on the receipt of a cash gift unless the income 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.

 

Hello, I'm a non UK-resident and recently graduated from a UK university. My parents from India will be supporting me with cash gifts no more than £1500 from time to time with my monthly expenses here, is that money received taxable? Please let me know. Thanks.

I am UK resident, Indian passport holder. My uncle who stays in US is gifting me 30000 pounds. What are the tax implications for this? Thanks!

Hi
 

Sid ,   There are no income tax implications on the receipt of a cash gift unless the income 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.

 

Hi
 

Ninad Barbadikar ,

 

There are no income tax implications on the receipt of a cash gift unless the income 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.

Hi, I am a French citizen, but UK resident and tax payer. My parents will be gifting me about €66000 from the Canary Islands to help me buy a house. Will I be taxed on that? Thankyou

Hi,

There are no Income Tax implications on the receipt of a cash gift unless the income 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.

Hello HMRC, I am a UK resident. I'm buying a property in the UK and my overseas parents are giving me a cash gift for the purchase. I understand cash gifts are not taxable unless the income generates revenue. My question is, is the cash gift exposed to inheritance tax should my something happen to my parents (who are not UK citizens and do not have residency/are domiciled in the UK)? Thanks in advance.

Hi TaxCuriouse,

Please contact the Inheritance Tax team for advice:

Inheritance Tax: general enquiries

​​​​​​​Thank you.

Dear HMRC I am a tax paying BNO VISA holder (In UK over 230 days) I have received cash gift worth £100,000 from my mother who lives in HONG KONG. Do I have to declare this and do I get taxed for it? Do I need to pay income tax or any other tax? Estate tax if my mother passed away within certain years?

HMRC I am UK national domicile my brother they are abroad non domicile the want to give me money through bank account as a gift what is the limit of cash gift thanks

Hi Sha Sha,

There are no Income Tax implications on the receipt of a cash gift unless the income generates interest or dividends. These would then potentially be subject to tax. 

Tax on savings interest

Tax on dividends

Thank you.