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Posted 15 days ago by VHR
I'm Spanish working and living in the UK for 10 years now with settlement status. My parents want to give me £50,000 from Spain which I will use to pay part of the mortgage in the UK. Would that have any tax implications?
Posted 15 days ago by HMRC Admin 19 Response
Hi,
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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