I am aware that there are no income tax implications on the receipt of a cash gift unless the income generates interest or dividends.
However my question is: can I invest this cash into a stocks and shares/Investment/Cash ISA ( Individual Saving Account)?
I’m a U.K. taxpayer and may receive a cash gift from my parents from abroad. Can I use this cash to invest in my Investment/ stocks ISA? How does this work in regards to tax implications?