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Posted Thu, 02 Feb 2023 18:11:52 GMT by Huss Daw
My relatives oversea are pooling money together to send me a cash gift for my wedding in May. I plan to have this paid in to my personal bank account. I wanted to know if there are any tax implications on this or any thresholds I should be made aware. I also wanted to know if this needs to be declared to HMRC or any paperwork needs to be filled out if is a gift. The uncle sending this lives overseas and is not a UK citizen, nor does he live or work in the UK.
Posted Wed, 08 Feb 2023 12:34:00 GMT by HMRC Admin 32

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

Tax on dividends 

Thank you.

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