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Gift Money Limit from Brother

Posted Wed, 29 Mar 2023 20:39:46 GMT by
Hi, please can you guide me on the amount limit and tax implications in case my brother wants to send me an amount from UAE to my UK account? To be specific the amount is £300,000
HMRC Admin 32
Posted Thu, 06 Apr 2023 10:43:00 GMT by HMRC Admin 32
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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