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  • RE: Gift tax for cash gift from overseas

    Hi there, I am a British citizen, living in the UK for 14 years now. I also have another nationality. I was visiting my country of birth recently and my mom handed me £5000 cash from her savings as a gift. I took the money with me to the UK and deposited to my bank account. Do I need to pay taxes on this? Its very confusing as HMRC website says its £3000 per year but this forum seems to tell there is no tax on cash gifts from relatives. Can you please confirm? Thanks.