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Posted Sun, 21 Jul 2024 06:18:29 GMT by Pongo
Hello Admin, We are coming from Hong Kong and move to uk by bno visa. My spouse transferred £5000 to me as gift money after I arrived in the UK , this fund is coming from our only property sold in Hong kong few years ago and she converted from HKD to GBP already before we moved to UK. I understand receive gift money is not subject to CGT. If convert it back to HKD to for the expenditure in Hong Kong and UK in the future Is there any tax implications? Thanks 

Name removed admin .
Posted Wed, 24 Jul 2024 08:19:44 GMT by HMRC Admin 25 Response
Hi Pongo,
If for personal use only then no.
Please  see guidance  here:
CG78315 - Foreign currency: personal expenditure of individuals
Thank you. 

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