Gift tax for cash gift from overseas

Hi. Her auntie who lives in usa wants to pay £9000 to my wife so she can open an isa with it. Would there be any tax or capital gains implications for this? Thanks

[Dispaly name changed - Admin]

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.

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.

Hi Tishorg

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.

Hi I asked this; Hi. Her auntie who lives in usa wants to pay £9000 to my wife so she can open an isa with it. Would there be any tax or capital gains implications for this? Thanks The reply tells me there are no income tax implications. But what about capital gains tax, will any be due on this £9k gift, even if she puts it into an ISA? Thanks

I am resident and a tax payer in the US and want to send a gift of $50,000 to a uk citizen who is a taxpayer. Will the gift be taxed in the uk?

Hi jasonneil Neil,

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

Guidance on ISA accounts can be found at Individual Savings Accounts (ISAs)

Thank you.

Hi. You keep telling me about income tax but I am asking about capital gains tax. Stop sending generic copy and paste replies and answer my question please…. 3rd time of asking Thanks Jason

Hi jasonneil Neil,

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.  

There will not be any capital gain charge either.

Thank you.

Ok thanks. Hopefully the last questions… there is no cap to a cash gift value then, given what you say above (which surprises me). And if the cash gift was invested into an isa, I assume the interest from this gift has no tax implications either? Thanks

Hello, we are preparing to immigrate to the UK, I have a pair of children, they are 7 and 4 years old, my parents, who live in HK are thinking to send me UK$5000 once yearly as a gift,to help with me and my children cost of living. Is this money gift are form of income? And when i got a job, do I need to calculate income tax together with my salary? Thank you very much for your assistance

Hi, I am a UK resident but my parent is in China My parent has some properties in Shenzhen and last year in Sept 2022, the local property developer and state officer in China informed them that a redevelopment project led by local government will be started after several years and they asked my parent to sign the agreement of the project and a sign-on bonus is therefore provided. My parent agreed and put my name as beneficiary in the agreement to receive the payment approx. CNY55,000 In this circumstance, do i need to pay tax for it? Thank you

Hi cmperrott perrott
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).  
Thankyou.

Hi, I’m UK tax paying resident, Belgian and Afghan national. I got some cash as gift from friends and family members. I want to bring it with me to UK and put it in my UK bank account. Could you tell me if I need any proof for UK customs at the airport? And the national language of Afghanistan is not English, so will it be acceptable in any other language? Kindly give me all the informations I need to have before I come back to UK. Thanks in advance for your help.

Hi jasonneil Neil,

Your question is not relevant to capital gains.  Cash gifts do not attract capital gains.  

If you need a more detailed response, you will need to contact us here -Self Assessment: general enquiries

Thank you

Hi, I am a skilled NHS worker (doctor) working in the UK, paying tax in UK. However,I am an Indian Passport holder. I wanted to ask if there has been any recent changes in taxation on receiving money from parents and family abroad? - My father wants to send approx 20000£ to UK from India? - Do I have to pay any tax on it? - I do not have a self assessment presently as I have PAYE from NHS every year. Do I need to fill self assessment because of the gift? - If I transfer the money into stocks or shares ISA and earn interest/profit on it, do I need to pay any tax on the profits? Many Thanks. 

Name removed Admin.

Hi jasonneil Neil,

Cash gifts do not attract Income Tax or Capital Gains, whether the gift emanates from the UK or abroad. Any interest the gift generates once you receive it, may be subject to tax. If the gift is placed immediately upon reciept, into an ISA (the max deposit annually for ISAs is £20000.00) the interest the gift accruesm, would not be taxable.

Thank you.

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.

Hi MK1102,

There does not appear to be a disposal of property or land and you do not appear to have beneficial ownership of the property or land. It would appear that this may be a cash gift from your parents, which is not taxable. If it is not a gift, then I would need to refer your to BIM100125 regarding miscellaneous income.

BIM100125 - Miscellaneous income: scope of the provisions: sweep-up

Thank you.

Hi I am resident in UK and on skilled worker visa. My sister wants to gift me £100000 in India and I will get this money transferred to my Uk bank account . Pl confirm if there is any income tax on this or do I have to report this to anyone ? Also confirm if there is any limit in getting money transferred to my uk bank account ? Also my friend wants to gift me £100000 from Dubai to help me to buy a house in UK. He will transfer this amount to me in my uk bank account . Will there be any tax on this amount and if I have to report this to HMRC ?