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Posted Fri, 05 Apr 2024 10:10:04 GMT by Lincoln Ma
Would like to ask if we receive a lump sum money of ~GBP 100,000 from parents in Hong Kong for buying property, is there any tax exposure?
Posted Mon, 15 Apr 2024 13:27:19 GMT by HMRC Admin 32 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

Tax on dividends

Thank you.

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