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Posted Sat, 15 Oct 2022 17:37:48 GMT by Laya Korologou
If a parent who is a non UK resident makes cash gifts from an overseas account which is over 3000 a year will it count toward his UK assets and subjected to IHT?
Posted Wed, 19 Oct 2022 10:22:43 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  . 

If the giftee is UK resident, then there may be implications for IHT   . 

Where the giftee is not UK resident, then there may be implications for the equivalent of IHT in their country of residence.

Thank you.

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