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Posted Fri, 31 May 2024 10:43:44 GMT by Sylvio HARDEL
Hi, I'm a UK resident for tax purposes. However my parents - who are based in France - made me a 50000-euro gift. Do I have to declare this money to HMRC?
Posted Wed, 05 Jun 2024 10:57:43 GMT by HMRC Admin 20
Hi Sylvio,
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 and Tax on dividends).  
Thank you.

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