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Posted Mon, 03 Oct 2022 13:35:46 GMT by cavcav
Hi, I am a resident of UK with HK Passport. My friend, who resides in Hong Kong gift me some cash (around £600) from her HK bank account to my HK bank account. Do I need to declare it or need to pay tax? Further, Does my friend need to declare somewhere that it is a gift from her? Thanks
Posted Wed, 05 Oct 2022 08:13:39 GMT by HMRC Admin 17

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.
Posted Wed, 05 Oct 2022 12:16:12 GMT by cavcav
Thank you for your prompt response!

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