Tana Scott
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RE: Cash gift from parents outside UK
Hello, My father-in-law, a retired British citizen living permanently in Spain, wants to send my husband, a British citizen living in the UK, a gift of money to help us financially. His (father-in-law's) pension is from the UK, but he has permanent residence in Spain for 20 years. He believes there's a limit of £1,000 he can send annually before facing taxes. Is this true? Is there a limit on the amount of money he can transfer from his Spanish account to his son in the UK? Thank you