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Posted Sat, 15 Jul 2023 06:15:10 GMT by
Hello My family from time to time deposit me some money in my bank account in Brazil as a gift and I'm thinking to bring this money which is around 80K to the UK and pay my mortgage, The bank account where I have the money doesn't generate interest. Would I need to pay any tax? I'm concern of getting a big bill from the HMRC. Thank you
Posted Thu, 20 Jul 2023 16:37:45 GMT by HMRC Admin 5 Response
Hi

The transfer of money from an overseas bank account to a UK account has no income tax implications, unless interest is generated.
So on the basis of the info you have provided, there will be no tax to pay. You can find more information here
Tax on savings interest

Thank you

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