Fayman Mak
Joined: 5/17/2023
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RE: Gift tax for cash gift from overseas
Hello, we are preparing to immigrate to the UK, I have a pair of children, they are 7 and 4 years old, my parents, who live in HK are thinking to send me UK$5000 once yearly as a gift,to help with me and my children cost of living. Is this money gift are form of income? And when i got a job, do I need to calculate income tax together with my salary? Thank you very much for your assistance