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Cash gift from overseas

Posted Sun, 22 Oct 2023 06:56:52 GMT by
I am a BNO Visa holder . If receiving the bank transfer gift money £3000 every tax year from my brother who lives and work in Hong Kong , do I have to declare this and need to pay tax, please?
HMRC Admin 17 Response
Posted Tue, 24 Oct 2023 14:17:09 GMT by HMRC Admin 17 Response

Hi,
 
No.  Cash gifts are not subject to income tax. 

Any interest the gift generates after you receive it, may be subject to income tax .

Thank you.

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