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Posted Sun, 10 Mar 2024 23:47:58 GMT by J G
Hi, Hi, I 'm a French national living in the UK and I'm resident there for tax purposes. What if my parents, based in France, want to make me a 25,000 pounds donation/ gift (they would put it on my French account). Should I report it to HMRC ? Should I pay taxes on this and by how much ? Many thanks,
Posted Thu, 14 Mar 2024 12:14:09 GMT by HMRC Admin 19

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 seen here:

Tax on savings interest

Tax on dividends

Thank you.

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