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  • RE: Gift tax for cash gift from overseas

    Dear HMRC, I'm a tax paying UK resident. My parents are planning to give me cash gifts by depositing cash to my bank account in Hong Kong and then I'll transfer money from my bank account in HK to my bank account in UK. I'd like to ask 1) Is it regarded as cash gift? 2) Do I need to provide document to prove the source of money? 3) I understand that I have to pay tax for bank interest but just to confirm whether I have to pay tax in addition to bank interest. Thank you very much!