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Posted Tue, 12 Mar 2024 00:16:58 GMT by Marion Bolwell
My son wants to send a regular cash gift to help with my cost of living. Do I have to pay tax on this if it takes me above the minimum threshold?
Posted Tue, 19 Mar 2024 12:01:06 GMT by HMRC Admin 8
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 

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