Kelvin
Joined: 4/30/2023
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RE: Gift tax for cash gift from overseas
I am living overseas and not a UK citizen. I want to give a big sum of my savings to my spouse and my kids, who are BNO visa holders in the UK. Do they need to pay any tax? If so, what is the allowance before they are required to pay any tax. If not, how about inheritance tax in future?