The Dude Saunders
Joined: 5/24/2023
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tax on parental gifts from abroad
Hi, my mother lives in Germany and would like to gift me some money. I live in the UK and pay my taxes in the UK. I have read on a community thread that I don't have to pay taxes on this money, unless it makes a capital gain. However, I also read that I am only allowed a gift of 3000£ per year. I'm very confused. What is correct? Thank you