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  • RE: Gift tax for cash gift from overseas

    Dear HMRC, I have received a substantial tax gift from my parents in Greece. This has been declared to the Greek Inland Revenue for tax purposes. I would like to transfer the money from Greece to my UK bank account. I am a UK resident and I file self-assessments. Do I need to declare the money to HMRC? Will it be taxed? Is there a limit to the money I can transfer for UK tax purposes? Thank you.