Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 08 Jul 2023 11:50:11 GMT by ASLondon
Hi, I'm a UK permanent resident and domiciled, with double nationality, UK and EU. My mother (EU national, no UK assets whatsoever) wants to send me a cash gift of around say 20-50k euros to help me buy property. This money was earned by her, with tax paid on it in a different country. I'm hesitant because, as a UK tax payer, I'm not sure about the tax treatment of such a gift. Would I have to disclose it in my tax return? Would I need some form of declaration from her? This would be literally just a gift, which she would never want back (in other words, it's not an investment for her or anything like it, she just wants to help me). Also, what if my mother dies before seven years? Would I have to pay inheritance tax on this cash gift? Many thanks ASLondon
Posted Fri, 14 Jul 2023 10:17:43 GMT by HMRC Admin 20
Hi ASLondon,

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 and Tax on dividends).  

Thank you

You must be signed in to post in this forum.