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Cash gift from Hong Kong

angelac
Posted Tue, 05 Dec 2023 17:31:59 GMT by angelac
Hi My daughter living in Hong Kong has deposited HKD 8,888 in my HK bank account as my birthday gift. I may transfer this money to my UK bank account. Do I need to declare and pay tax for the money ? If so, what should I do ? Thank you for your kind attention.
HMRC Admin 10 Response
Posted Wed, 06 Dec 2023 17:03:56 GMT by HMRC Admin 10 Response
Hi
As it is a gift there is no tax due on this,any interest or dividends that this then generates is taxable income.

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