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Posted Fri, 25 Aug 2023 17:28:05 GMT by Guilherme Boujadi
Hello. My parents want to buy send me a cash amount from overseas to the UK in order to buy an apartment. Do I need to pay taxes on this amount of money? I have been living in the UK for the past 4,5 years. Thank you.
Posted Thu, 31 Aug 2023 09:40:41 GMT by HMRC Admin 25
Hi Guilherme Boujadi,
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
Thank you 


 

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