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Posted Fri, 16 Jun 2023 11:29:29 GMT by ju8689
Hi, I'm a UK resident for tax purposes. However my parents - who are based in France - made me a 5000-euro gift. Do I have to declare this money to HMRC ?
Posted Wed, 21 Jun 2023 15:34:32 GMT by HMRC Admin 32
Hi,

No. 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

Tax on dividends

Thank you.

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