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Cash gift

Answer
C.K. Pun
Posted Thu, 11 Apr 2024 15:29:04 GMT by C.K. Pun
I am a BNO visa holder. I have no children & my niece living in Hong Kong wants to give me 900 pounds per month to support my wife & me living in UK. Is it need to pay tax.
HMRC Admin 25 Response
Posted Fri, 19 Apr 2024 14:19:16 GMT by HMRC Admin 25 Response
Hi C.K. Pun,
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
Thank you. 
 

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