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Posted Thu, 28 Dec 2023 11:42:30 GMT by
Hello, my grandmother wants to gift me $20-30k from the US. She is not a UK resident, but I am. Will there be any taxes involved in this transfer?
Posted Tue, 09 Jan 2024 09:48:34 GMT by HMRC Admin 5 Response
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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