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Posted Mon, 15 Nov 2021 12:18:47 GMT by ju8689
Hi, My parents who live in France want to make a £5000 gift to me. They want to put in the account that I have in France. I'm a UK resident. Do I have to declare this to HMRC ? Would I be taxable and by how much (if you've got an idea) on this ? Many thanks !
Posted Tue, 16 Nov 2021 13:08:26 GMT by HMRC Admin 2
Hi,

You would not need to declare the £5000 gift for Income Tax purposes, but if this account generates any interest in your name, then you would need to report this for Income Tax. 

Thank you.

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