ardra menon
Joined: 9/9/2024
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RE: Cash gift from India to UK
Hi, I am residing in the UK and my parents in India would like to send me £20,000 GBP towards the deposit for buying a house. I would like to know the tax implications of sending the amount from their Indian Bank Account. Also, please let me know the tax implications for money send from my Indian Bank Account to my UK Bank Account. I would like to know any documentation required and where these documents need to be submitted - HMRC or my UK Bank. Thanks