Pawel M.
Joined: 9/14/2023
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Money gift fom my father, is it subject to taxation?
Hello, I have a question about taxation of money gifted by a parent. I'm in the UK since 2020, and my father lives in Poland. He now wants to send me some money (£10,000). Is it subject to taxation? Or can he just transfer it from his account to mine? For more confirmation. I plan to put the money into an ISA to save up for the future house. I'm aware that the interest from ISA will be subject to the UK taxation, but what about the money itself?