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Posted Wed, 28 Sep 2022 09:58:56 GMT by Vince Spencer
Hi My friends based in Hong Kong want to send me some money to UK. Is there a limit and do I need to declare it? And do I need to pay tax on it
Posted Thu, 29 Sep 2022 12:18:42 GMT by HMRC Admin 19
Hi,

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 Income Tax. Further guidance can be found here:

Tax on savings interest

Tax on dividends

Thank you.

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