Do I need to declare income gifted to me

My former business partner wants to personally gift me £85,000. My understanding is I don't need to include this in any self assessment. Is this correct?

Hi,

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. You can see guidance here:

Tax on savings interest

Tax on dividends

Thank you.